Insurance
Name One type of insurance?
Health, Auto, Home, Life Etc..
_________ in practical terms, it’s someone who literally “depends”on the tax payer for support
Dependents
__________ is a paycheck that is deposited directly to your banking account.
Direct Deposit
T or F? A debit card might look like a credit card, but it is tied directly to your checking account.
True
________ is an unexpected profit or gain of money
Windfall
______ means to pay with one's own money rather than with money from another source
Out of Pocket
Name the three major categories of taxes an American Citizen pays out of each pay check?
Federal Taxes, Social Security, Medicare
_________ is the amount you make before taxes or other deductions are taken out.
Gross Pay
A private number that is used for security purposes to identify you and your account.
Personal Identification Number (PIN)
_________ is a time-trusted investment strategy where you select a variety of investment types for your portfolio to minimize risk.
Diversification
________the person (or persons) who will receive the payout after you pass away
Beneficiary
_____also known as the Wage and Tax Statement, is the form an employer is required to send to each employee and to the IRS at the end of the year.
W-2
To sign your name on the back of a check.
Endorse
Money withdrawn from a bank account that exceeds the available balance
Overdraft
_______ a percentage of ownership in a company or a financial asset.
Shares
Name six common factors that affect your driving insurance premiums
Age, Martial Status, Gender, Type of Vehicle, Location, Driving Record, Financial Responsibility
What is the most common form used by citizens to pay their taxes?
IRS Form 1040
An emergency fund is a savings fund to cover your living expenses, set aside in case anything happens to your income (job). How long is it recommended to have saved for?
3-6 months of living expenses
______ is the percentage rate the lender charges you to borrow money.
Interest Rate
Fair Isaac Credit Organization (FICO) score is the most popular credit score, what is the range it runs to and from?
300-850
What are the three basic levels of coverage in regards to home or renters insurance?
Actual Cash Value
Replacement Cost
Extended replacement cost value
Give me two examples of a common Tax Credit?
Child Tax Credit, Savers Credit
American Opportunity Tax Credit
Lifetime Learning Credit
Name the three types of taxes Americans are required to pay out of each paycheck.
Federal Taxes
Social Security, Medicare
What does APR stand for?
Annual Percentage Rate
Your debit to income ratio is best kept below what percentage of your gross pay?
36%