Benefits and Insurance
True or False: All jobs provide some kind of benefits in addition to your pay.
False
Jobs can choose to pay for none, some, or all of your benefits (like insurance) for you.
This is an investment that is a share of ownership in a business or corporation.
What is a stock?
This vocabulary word would describe someone taking money out of a bank account.
What is a withdrawal?
This is the age at which you can open a credit card on your own.
What is 18?
This type of account can give you penalties if you access your money more than an agreed on amount of times per month.
What is a Savings Account?
True or false: If you pay for your insurance each month, it will cover the entire cost of anything that you need (such as surgeries, glasses, checkups, etc.)
False
This is an investment that is a loan to a corporation or a government.
What is a bond?
This vocabulary word describes why you should choose carefully what to spend your time or money on, because you are giving something else up each time.
What is an opportunity cost
This number is used by lenders to determine if they should lend you money and how much they charge you for interest on loans.
What is your credit score?
What day of the year is Tax Day?
What is April 15th?
This type of insurance can help provide financial relief to your family in case of your accidental death.
What is life insurance?
This is a type of stock that you can buy, which spreads your money out to more than one company.
What is a mutual fund?
This vocabulary word describes when a job will electronically send your pay into a bank account for you.
What is Direct Deposit?
If your credit score is this number or above, it is considered "Excellent".
What is 800?
This vocabulary word tells you what the maximum amount of money that you can borrow from your credit card company at one time is.
What is a Credit Limit?
This is the name of the money you pay every month to keep an insurance policy.
What is a premium?
After how many years (including the decimal point) does an AVERAGE stock's price double?
What is 7.2
This vocabulary word describes a cost that changes price each month (food, utilities, etc.)
What is a variable expense?
This shows the lowest amount that you can pay your lenders back each month without missing a payment.
What is a minimum payment?
This is the name of the document that your job needs to send you each year that says your TOTAL net, gross, and tax payments, which you will need to file your taxes.
What is a W-2?
This is the money you pay out of pocket (pay yourself) each year before your insurance company will share costs with you.
What is a deductible?
Fill in BOTH blanks.
___1__ are more stable and are useful for short term money growth.
___2___ are better performers for long term money growth.
What are 1)bonds, and 2)stocks?
This vocabulary word describes the idea that the more time you give your investments (like stocks) to grow, the faster they grow every year.
What is compounding wealth?
Name any 3 of the 5 criteria that banks review to create your credit score.
Number of Accounts (how many places you are borrowing from)
Length of Credit (how long you have been borrowing for)
Number of Inquiries (how many places you have asked to borrow money from)
Missed Payments (how many times you have not paid people back on time)
Revolving Utilization (how much of your credit limit you are actively using)
The "receipt" that you get from your job by mail or email each time you are paid and shows all of your gross pay, net pay, deductions, etc is called your _____ _______.
What is pay stub?