Giving and Insurance
A voluntary contribution of one-tenth
What is a tithe?
The process of setting goals and planning the use of resources
What is financial planning?
The total amount one earns
What is gross income?
A plan that helps a person manage his money wisely
What is a budget?
A smart card that is used with a private password or pin to allow him to deduct purchases directly from checking or savings accounts
What is a debit card?
A financial gift to God
What is an offering?
Valuables owned by a person (like cash or property)
What are assets?
The difference between one's personal and dependency exemptions
What is taxable income?
A form of cash purchased in small amounts (similar to a check without a checking account)
What is a money order?
The yearly interest rate that determines the lender's finance charge on borrowed money
What is the Annual Percentage Rate?
The portion of a loss the insured person agrees to pay
What is the deductible?
The person who administers an estate
What is the executor?
A person's take-home pay (after taxes have been deducted)
What is net income?
A fee the bank charges customers for handling their accounts
What is a service charge?
The temporary borrowing of money through business channels to finance the purchase of goods and services
What is credit?
A protective measure to cover financial losses in case of an emergency
What is insurance?
Letter written by the testator that provides information for the executor's assistance and advice on the distribution of assets
What is the letter of last instructions?
Items to pay for in the future
What is a long-range goal?
A check for a very large amount issued by the bank (more accepted than a personal check)
What is a cashier's check?
The term used when a checking account has insufficient funds to cover a check
What is overdrawn?
An organized strategy for determining the amounts and types of insurance needed
What is risk management?
The worldly possessions of a deceased person are called this
What is an estate?
Subtract specific expenses to reduce taxable income
What is itemize deductions?
Checking accounts that earn interest
What are negotiable order of withdrawal (NOW) accounts?
Someone who promises to repay a loan if the borrower fails to pay it
What is a cosigner?