What do these letters stand for?
What does ATM stand for in the context of a way to access cash?
What is: Automated Teller Machine
This is the wage and tax statement, annually provided by an employer
What is: the W-2 form
A ________ represents a share in the ownership of a company
Stock
You should aim to do this each month when you get your credit card bill.
What is: pay your bill on time and in full (if possible).
An individuals total earnings BEFORE taxes and deducations is called
Gross Pay
What does APR stand for in the context of financial transactions?
What is: Annual Percentage Rate (APR)
Tax Day (the last day to file your taxes) is normally on this date in April unless it falls on a holiday or weekend.
April 15th
This is the name given to a declining stock market when investors are pessimistic.
What is: A Bear Market
This type of debt repayment strategy has you focus on the highest interest rate debts first (though make sure you pay the monthly minimum on all open debts you have).
What is: the Avalanche Method (also called the High Rate Method)
An individuals total earnings AFTER taxes and deducations is called
Net Pay
When you think of retirement, what does IRA stand for?
What is Individual Retirement Account?
This type of IRA account taxes your money BEFORE it enters the account.
What is: A Roth IRA
This type of account locks your money in for a pre-determined period of time.
What is: A certificate of Deposit
Name one of the two largest impacts to your credit score.
What is: payment history or amounts owed.
What product protects you from the risk of financial ruin after a negative event?
Insurance Policy
The federal agency that provides insurance coverage for banks is called the FDIC. What does this stand for?
What is: Federal Deposit Insurance Corporation
This is the tax form you must complete before you can begin working, so that your employer knows how much to withold from your paycheck each pay period.
What is: the W-4 form
This is a type of asset that can help you diversify your investments holdings because it is a basket of different stocks, but is able to be traded as easily as a single stock.
What is: A Mutual Fund
What is the typical range of possible FICO credit scores?
300 - 850
You are at the checkout counter at the local supermarket and use your debit card to pay for your groceries. Where does the money for this purchase come from?
Your own personal checking account.
You fill out the FAFSA form to see if you can qualify to get money for college. What does FAFSA stand for?
What is: Free Application for Federal Student Aid
This is the form used to file your taxes each year.
What is: 1040 form.
What is an instrument used by the government or corporations to raise money by borrowing from investors?
Bonds
Name one of the 3 Credit Reporting Agencies.
What are: Equifax, Experian or TransUnion.
Name one of the 3 common budgeting strategies
What is: Envelope budgeting, 50/30/20 budgeting, or Zero-based budgeting