Credit
Installment
What are the two ways to make money from stocks?
Buy/Sell for profit
Dividends
What is a high-yield savings account?
Savings account that has a higher interest rate than other accounts
The town of Nauvoo, Illinois is home to the 2nd largest population of this religion in America:
Mormon
This type of credit involves open-ended credit limits with minimum monthly payments varying depending on usage
Revolving
Index funds follow _____ investment strategies, while mutual funds follow _______
Index- passive
Mutual- active
What type of account would you use for regular spending purposes?
Checking
What's the difference between "variable" & "fixed" expenses? Provide one example of each.
Variable- changes
ex: gas, utilities, groceries
Fixed- stays the same
ex: rent/mortgage, car payment, phone bill
The wreck of the Edmund Fitzgerald occurred on this great lake:
Lake Superior
What is the biggest factor of your credit score?
Late/missed payments
Why might someone invest in a bond rather than a stock?
Safer investment, you're guaranteed your money back
True/False: You can spend money from your savings account using your debit card
False
Why is it difficult to budget with a part-time, hourly job?
Your income is variable, making it difficult to anticipate how much income you'll be working with each month
This EG administrator was a Chemistry teacher at Hersey during my time in high school
What is a "term length"?
Length of the loan/credit
P/E ratio tells investors....
How much they'd need to invest (on average) to make $1 in earnings on a stock
How much of your income should be going towards owning a car (monthly payments/gas/insurance)?
10-15%
What's the 50/30/20 rule?
50%- needs
30%- savings/debt
20%- wants
What 2 documents do you need in order to successfully apply for most jobs as an adult?
Resume, Cover Letter
The thing that makes debt secured or unsecured is:
Collateral (an item of value attached to the debt)
If you wanted to see a stock's volatility (how much it changes), you would look at:
52-week range (high/low)
Assign the following actions with the correct corresponding accounts: Checking, Savings, High-Yield Savings, Bond, Stock
1. You're retiring soon, so you want to put your money somewhere you're guaranteed returns
2. You're saving up for a car
3. You're buying Chipotle for lunch
4. You have a longer-term savings account that you deposit 20% of your paychecks towards
5. You want to invest in Microsoft
1. Bonds
2. Savings account
3. Checking
4. High-yield savings account
5. Stock
What's the difference between net & gross income? Which one do we budget with?
Net- income AFTER taxes and deductions
Gross- income BEFORE taxes and deductions
We budget with NET INCOME.
This U.S. President was born in Illinois
Ronald Reagan