Financial Literacy 2
A government issued ID number given to you at birth
What is your Social Security Number?
Something that you spend money on, either one time or regularly.
What is an expense?
Money you receive for doing work or an internship; providing a service
What is earned income?
A percentage of the amount you borrowed, increasing the total amount you have to pay back in the end.
What is interest rate?
The money charged for the privilege of borrowing money.
What is interest?
Money that is from non-work sources
What is unearned income?
An occupation undertaken taken for a significant time and with opportunity to progress.
What is a career?
A fixed amount someone earns in a year for their job--regardless of the number of hours worked.
What is a salary?
A specific type of loan that is used to buy real estate (a home or other property).
What is a Mortgage?
A _____ is a percentage-based amount paid on non-essential items at the point of sale
What is Sales Tax
Name 2 types of investments
What are Stocks, Bonds, Mutual funds, or real estate ?
A plan for earning and spending over a period of time.
What is a budget?
Money owed from one person to another person or company
What is a debt?
Money from sources that require little to no effort after set-up
What is passive income?
The 2 different types of expenses are
What are fixed and variable?
A type of bank account that allows you to easily deposit and withdraw money for daily transactions
A Checking Account
The maximum amount you can spend on a credit card.
What is credit limit?
A process that allows your employer to send your paycheck to your bank account rather than print a physical check
What is direct deposit?
The score given by a credit agency regarding your ability to pay off a debt.
What is a credit rating/score?
Money that is saved for unexpected expenses
What is an emergency fund?