INCOME
Regular payments made by a tenant to an owner for the use of the owner's building or land
what is rent
Variable Expense
A payment made for the use of money that has been borrowed
interest
Kanye wants to make sure that Kim isn't left with his enormous debt when he dies. What insurance does he have?
Life insurance
when a person is judged by a court to be insolvent
bankrupt
Time during which work is done outside regular working hours. Such time is usually paid at higher rates
what is overtime
tickets to watch toy story 4 is what type of expense
Variable expenses
Provide 3 reasons for borrowing money
immediate satisfaction
convenience
possible savings
emergencies
buying big ticket items
forced savings
Mr. Alexander loves to jump off concrete walls, every weekend he's just out there down by Bondi beach jumping off the boulevard. He has gotten a type of insurance to cover his risky behaviour, which is it?
Health Insurance
a person who owes money
debtor
sum payable as profit for shares
dividend
A commitment to regularly put aside some money for future use
Budget
this type of loan typically has very low interest rates and is paid over a very long period of time
mortgage
Comprehensive car insurance
a document from a lender stating that person has failed to carry out the terms of the contract
default notice
A way of saving so an employee has some money in retirement
Superannuation
buying something without giving it much thought as to whether you really need it
impulse buying
I have borrowed against my house (equity) to get a loan
secured loan
Ms. Werner is constantly engaging with risky activities, e.g diving with sharks, eating excessive doughnuts, bundgee jumping over rocks, also jumping off concrete walls. What cost of insurance will go up?
Premium
where can you go for advice on how to deal with your loans?
financial counselling
A percentage of a sales price received by a salesperson for her or his services
Commission
Why is it important to not have a budget that is too tight
- unrealistic budget could be too hard to stick to
- budgeting is not to make life harder or worse
What are the 3 c's of credit rating
Character
Capacity
Collateral
Miss. Werner cannot be bothered teaching year 9 commerce any more. She consistently shows up late to class and tells students to leave her alone. The school is thinking about terminating her employment contract. What insurance should she get?
Income protection
when a certain amount of money can be taken out of a borrower's wages
garnisheed