Money Mindset
Having a good credit score, a job you love, and a retirement are examples of this habit
what is a wealthy habit
A debit card is linked to this account
what is a checking account
Name 2 disadvantages of a credit card
debt, overspending, interest, fees
These assets come from established and financially safe companies that typically grow
what is a blue chip stock
double jeopardy
If you own a car, what type of insurance do you need
What is liability insurance
"Don't put all of your eggs in one basket" covers what concept
What is diversification
When there is more than one tax on an item
What is a surtax
Character is the individual’s reliability to repay the loan, an example would be
FICO score, years living at the same address, criminal record
If you have an interest rate of 10%, how long will it take for your money to double
What is 7.2 years
What costs more, a high deductible or low deductible insurance plan
What is a low deductible insurance plan
Is Intellectual Property an asset or a liability
what is an asset
The FDIC protects your money inside a bank up to this amount
what is $250,000
Credit card companies charge _____ if the balance isn't paid off within the grace period
what is interest
What is the difference in management between an ETF and a Mutual Fund
ETFs are passively managed while Mutual Funds are actively managed
Double Jeopardy
Real estate is an asset and REITs are companies that own, operate, or finances income-producing properties. What does REIT stand for
Real Estate Investment Trust
These characteristics cover this concept
short-term, ready access to cash, minimal risk, and earn little interest
what is saving
double jeopardy
Form filled out before starting a new job that states how much money in taxes employers can withhold from your paycheck
What is the W-4 form
Double Jeopardy
Name all 5 factors that make up a credit score
pmt history, amounts owed, length of credit history, new credit, types of credit used
What does NASDAQ stand for in the context of the stock market
National association of securities dealers automated quotations
refers to earning interest on both the initial principal and accumulated interest.
what is compound interest
What is an income generating asset and an example
investment that generates passive income, such as stocks, bonds, RE
This tax taxes items that are seen as morally suspect, harmful, or costly to society such as alcohol and tobacco
what is a sin tax
What are three types of credit card fees
APR, Annual Fee, Cash Advance fee
These factors affect what
perception, news, financials, industry, shares outstanding
what are stocks
What is the term for the rate at which the general level of prices for goods and services rises
What is inflation