What is the term for income after taxes and deductions?
What is net income?
What is the term for saving money for unexpected events?
What is an emergency fund?
What does FICO stand for in credit scoring?
What is Fair Isaac Corporation?
What does the IRS stand for?
What is the Internal Revenue Service?
Who is the famous investor known as the "Oracle of Omaha"?
Who is Warren Buffett?
Spending more money than you earn is called this.
What is overspending?
This government-backed account helps you save for retirement with tax advantages.
What is an IRA (Individual Retirement Account)?
Paying only the minimum amount on a credit card each month can lead to this.
What is high-interest debt?
What is the name for a tax deducted directly from your paycheck?
What are payroll taxes?
What year did the Great Depression start?
What is 1929?
What is the 50/30/20 rule in budgeting?
What is a method to allocate 50% for needs, 30% for wants, and 20% for savings?
What is the term for the practice of spreading your investments to reduce risk?
What is diversification?
What’s the term for the ratio of your credit card balances to your credit limits?
What is credit utilization?
This form is used to report your wages and tax withholding at the end of the year.
What is a W-2 form?
What was the name of the financial act passed in 2010 to prevent another financial crisis?
What is the Dodd-Frank Act?
A fixed monthly cost like rent or a car payment is called what type of expense?
What is a fixed expense?
This is the name for the percentage return on an investment over a year.
What is an annual percentage yield (APY) or return on investment (ROI)?
This three-digit number is used to determine your creditworthiness.
What is a credit score?
Contributions to a 401(k) are deducted from your paycheck in this manner.
What is pre-tax?
This is the name of the scandal involving Enron and its fraudulent accounting practices.
What is the Enron scandal?
What is the term for unexpected costs like car repairs or medical bills?
What are emergency expenses?
What’s the maximum annual contribution limit for a Roth IRA in 2024 for someone under 50?
What is $6,500?
What’s the name of the law that entitles you to one free credit report from each credit bureau per year?
What is the Fair Credit Reporting Act?
This term refers to income earned from investments, not regular employment.
What is capital gains?
What U.S. government program insures individual bank deposits up to $250,000?
What is FDIC insurance?