Getting Organized
The expenses that do not change from month to month.
Fixed Expenses
The act of making unplanned purchases on a whim, often driven by emotions or external triggers like advertising.
Impulse Buying
An investment fund that pools money from many investors to purchase securities
Mutual Fund
The ability to borrow money or access goods and services with the promise to pay for them later, often with interest.
Credit
A cyberattack delivered through text messages that try to trick people into giving away their personal information
Smishing
To calculate annual expenses, _________ monthly expenses by _______.
multiple, 12
The amount of goods and services that can be bought with a specific unit of currency. It decreases when prices rise faster than income, meaning you can buy less with the same amount of money.
Purchasing Power
Profit from the sale of capital assets
Capital Gains
A legal process through which people who cannot repay debts to creditors may seek relief from some or all of their debts.
Bankruptcy
A type of fraud that involves a scammer pretending to be a legitimate person, often via email, with the aim of tricking people into giving away their personal information.
Phishing
Food, vacation, and hobbies are fixed or variable expenses?
Variable expenses
Use Past Perfect Continuous to complete the sentence:
We ____ _____ _____ (live) beyond our means before my wife lost her job.
had been living
Easily converted into cash
Liquid
A legal claim against property that allows a creditor to secure payment of a debt.
Lien
A type of scam where phone calls are used to trick people into giving away their personal information.
Vishing
Something that allows people to borrow money to make purchases and pay the money back regularly plus fees and/or interest
Credit Card
Rewrite the sentence to reverse the two events:
We had been paying cash for everything until we got credit cards.
Until we got credit cards, we had been paying cash for everything.
When the amount of money you have invested grows in value over time.
A detailed record of your credit history, including information about your credit accounts, payment history, and any public records like bankruptcies.
Credit Report
When someone illegally installs a recording device inside machines such as ATMs so they can record users' pin numbers.
Skimming
The total amount of money that a person earns during a specific period of time, typically a month or a year.
Current Income
Make the sentence to show that we improved spending habits (Past Perfect Continuous):
buying in bulk
buying things at the market when we needed it
Before we began buying in bulk, we had been buying things at the market when we needed it.
- or -
We had been buying things at the market when we needed it before we began buying in bulk.
An investment vehicle that is somewhat similar to a savings account in that it offers insurance protection and low interest rates.
Certificate of Deposit
The Four Keys to Great Credit
Open checking and savings accounts
Get credit report
Fix any errors or omissions, add positive information
Establish new credit
When someone uses your personal identification information, such as your name, social security number, or credit card number, without your permission to commit fraud or other crimes.
Identity Theft