Budgeting
Beliefs and principles related to finance that are important to you
What is Personal Financial Values
An investment that is a loan to a corporation or a government.
Bond
Ranges of income that determine how much an individual or family pays in federal income tax
What is tax bracket
This number is used by lenders to determine how much they charge you for interest on loans.
What is credit score
A non-profit membership organization that offers checking accounts, savings accounts, and loans.
What is Credit Union
The number of siblings Mr. Goldin has
What is 3
What you can do to improve your chances of achieving a goal or budget
What is writing it down or using the SMART acronym
An investment that is a share of ownership in a corporation.
Stock
What are income, payroll/FICA, sales, user, property taxes
Property that is used by a lender to secure a loan (the bank takes the property if you don't repay the loan).
What is collateral
Expenses that do not change from month to month (like rent, mortgage, or car payment).
Fixed expenses
One of the classes Mr. Goldin teaches besides this one
What is International Business or Marketing
This type of life insurance covers you for only a fixed period of time.
Term life insurance
The three levels of risk an investment is assigned
Daily Double
What are aggressive, moderate, conservative
What are W4 and W2
The paperwork credit card companies must provide to consumers which include a clear, outlined description of apr, fees, and other penalities
What is Schumer box
Explain the difference between net and gross income
What is net income is your take-home pay, or the amount of money left after taxes and withholdings are taken out of your gross pay. Gross pay is what you're paid before taxes and withholdings.
The food Mr. Goldin is allergic to
Daily Double
What is wheat (bread)
The SMART goal acronym stands for
Specific, Measurable, Actionable/Attainable/Achievable, Realistic/Relevant, Time-based/bound
The measurement of how often the price of an asset changes AND its corresponding indicator (hint: >1, 1, <1)
What are volatility and beta
The difference between tax deduction and tax credit
Daily Double
What is a tax deduction lowers your taxable income and thus reduces your tax liability whereas a tax credit is a dollar-for-dollar reduction in your actual tax bill
Who pays for credit card rewards programs and the way in which that cost gets to that group
Who are consumers; the cost gets transferred to consumers through increased costs of goods provided by company who are charged transaction fees by credit card companies
The three types of federal student loans
What are subsidized, unsubsidized, and plus loans
Name two favorite hobbies or past times of Mr. Goldin's
What is surfing, cooking, dancing, watching tv, listening to podcasts, hiking, camping,
What are four expenses that should be included in a budget
What are student loan payments, housing expenses, transportation expenses, tax expenses, utility expenses, food expenses, entertainment expenses, etc.
The investing style popularized by John Bogle AND three different benefits of this strategy
What is Indexing/Index Funds; What are low fees/expense ratio/turnover, diversification, consistent long term ROI, passive management
The reason the government provide tax benefits for a variety of financial decisions
What is to encourage that behavior/action - ie saving for retirement, pursuing higher education, purchasing a house
The way in which people under the age of 18 can get access to credit cards and the pro/con that makes it a double-edged sword
What are authorized user accounts; this can hurt or help your credit score depending on how the primary owner uses it
The idea that investing in a variety of assets at different risk levels and in different industries protects your investments AND an example of an asset or investment at each of the three risk levels
What is diversification
Conservative - Govt. bonds, Gold, CDs, Savings Accts.
Moderate - Index Funds, Mutual Funds, Real Estate. Aggressive - Crypto, Options, Derivatives, Futures, Collectibles
Name three previous jobs held or places worked by Mr. Goldin
What is Cook/Line Chef, Server, Chocolatier, Tax Accountant/Filer, Production Assistant, TV Developer/Creative Development, Special Education Teachers Assistant, Technology Support Representative/IT, External Relations Assistant/Career Services, Youth Entertainer, Resident Assistant