Saving &
Budgeting
Budgeting
The First Foundation.
What is an Emergency Fund?
A type of card issued by a bank that allows users to finance purchases.
What is a credit card?
The Third and Fourth Foundations.
What is "Pay Cash for Your Car" and "Pay Cash for College"?
The least liquid type of investment.
What is a real estate?
If you do not own your home, you should have this type of insurance.
What is Renter's Insurance?
A written plan that shows total income and spending for a given period of time.
What is a budget?
The Second Foundation.
What is "Get Out of Debt"?
A form of federal or state financial aid that does not need to be repaid.
What is a Grant?
A piece of ownership in a company.
What is a stock or share?
The Fifth Foundation.
What is the "Build Wealth and Give:?
The act of matching your bank statement with your checkbook.
What is reconciling or balancing your checkbook?
A feeling of regret or concern after making a large purchase.
What is Buyer's Remorse?
It is not an award and it is estimated that there is over one trillion dollars in this type of debt in our coutry.
What are student loans?
When investing, this lowers your overall risk.
What is diversification?
This insurance replaces your income that is lost due to a short-term or permanent disability.
What is disability insurance?
An account used to save money over time to be used for a large purchases.
What is a sinking fund?
A rate which is either charged on debt or paid on investments for the use of money.
What is an Interest Rate?
A merit based form of financial aid that does not need to be repaid, usually offered based on academic, athletic and other achievements.
What is a scholarship?
A retirement savings plan offered by a corporation to its employees where the money grows tax deferred.
What is a 401K?
The amount you pay monthly, quarterly or annually to purchase different types of insurance.
What is a premium?
The persistent increase in the cost of goods and services or the persistent decline in the purchasing power of money.
What is inflation?
Refers to the financial opportunity that is given up because you choose to do something else with your money.
What is Opportunity Cost?
The an agreement in which you are basically renting a car for a specific period of time.
What is a car lease?
A pool or money managed by an investment company and invested in multiple companies.
What is a mutual fund?
The amount you must pay before you begin receiving any benefits from your insurance company.
What is a deductible?