Budgeting
According to the 70/20/10 budgeting method, the 20 category is used for this.
What is debt repayment and savings?
Distribution of profits by a corporation to its shareholders.
What is a dividend?
A tax on goods and services purchased by consumers.
What is sales tax?
Student loan debt is considered to be this type of debt. (Good, Bad, Neutral)
What is good debt?
After making your money available to the bank, you earn this over time on the principal alone.
What is simple interest?
This U.S. state is home to the Grand Canyon.
What is Arizona?
Using the 70/20/10 budgeting technique, credit card minimum payments would fall under this category.
What are needs? (70)
This refers to using non-numeric information to assess a situation, a company's value, and a product's quality.
What is qualitative analysis?
This is investment-type income and includes interest, dividends and capital gains, rents, royalties, etc.
What is unearned income?
Debt for items that decrease in value but are needed for a larger purpose.
What is neutral debt?
You should not spend more than __% of your income on total car expenses including gas, insurance, and maintenance.
What is 20%?
The year the first Air Jordan shoes were released.
What is 1984?
Donating to charity would fall under this budgeting category.
What are wants?
There are __ sectors in the stock market.
What is 11?
As a self-employed individual, you are required to file an annual return if you have net earnings of ____ or more.
What is $400?
This type of debt is when a creditor has the right to an asset of the debtor if they fail to pay back the loan.
What is secured debt?
By age 30, you should have at least this amount of money set aside in savings and investments.
What is the equivalent of your current annual salary?
This NFL team holds the record for the most Super Bowl appearances.
Who are the New England Patriots?
The first step in building a budget.
What is selecting a tool to record expenses?
A type of mutual fund or exchange-traded fund that seeks to track the returns of a market index.
What is an Index fund?
As a self-employed individual, you will receive these forms that report various types of payments you may receive throughout the year.
What are 1099 forms?
The primary disadvantage of this debt repayment strategy is its indifference toward interest rates.
What is the snowball method?
The savings rate in the U.S. has been between _ to _% of income over the past 60 years with the exception of the pandemic in 2020/21.
What is 5 to 10%?
The first rapper to star in a tv sitcom.
Who is Will Smith?
What is the last step in building a budget?
Categorize your expenses according to your budget technique. Analyze and potentially reallocate the expenses.
A fund that holds a collection of stocks and bonds and is bought and sold like common stock.
This tax is a 7.65% flat rate on any money you've earned.
What is Fica tax?
The first step to crushing your consumer debt.
What is forgiving yourself?
You can spend money on anything you want as long as:
1. The expenses match your financial philosophy
2. You have budgeted for it.
3. You have the funds available to pay for it.
The only team in the NFL to neither host nor play in a super bowl.
Who are the Cleveland Browns?