Occurs when money is withdrawn from a bank account and the balance drops below zero
What is an overdraft
200
Repayment owed by one party to a second party, and usually includes repayment of the original amount plus interest.
What is debt?
200
Wise people invest in ________________.
What is THEMELVES?
200
The public's ability to recall and recognize a brand by its logo, jingles, packaging, etc.
What is brand recognition (awareness)?
300
Compound interest
What is interest paid on interest previously earned
300
this is active and moving all of the time, you must learn to control it
What is money
300
The Third Foundation
What is "pay cash for your car"?
300
Pay cash for college.
What is the Fourth Foundation?
300
Buyer's remorse
What is feeling regret or concern after making a large purchase?
400
Sinking Fund
What is the name of a savings fund you have when you have a large purchase coming up
400
stress and disagreements over money
What is the number one cause of divorce in North America
400
The granting of a loan and the creation of debt.
What is credit?
400
Two forms of financial aid for college that do not have to be repaid.
What are grants and scholarships?
400
Caveat Emptor
What is buyer beware?
500
Emergency fund, purchases, wealth building
What are 3 basic reasons for saving money
500
one is a written plan for saving, giving, and spending; the other reflects what has already taken place
What is the difference between a budget and a cash flow statement
500
List your debts in order from smallest to largest, pay minimum payments on all but the smallest one. Pay every extra dollar towards the smallest debt and get it paid off. Then pay on the second one.
What is debt snowball?
500
A form that is completed annually to determine eligibility for federal financial aid.
What is FAFSA?
(Free Application for Federal Student Aid)
500
Wait overnight, consider your motives, never buy what you don't understand, seek council.