Basics
The ability to control and restrain yourself.
What is will power?
A feeling of regret that sometimes comes after purchasing something if the purchaser feels they paid too much, or did not want the item.
What is buyer's remorse?
A written plan of what will be earned and spent for a specific time period, as well as the results of what was earned and spent.
What is a budget?
When you put in $100.00 into an investment and you receive $106.00 at the end of that year.
What is simple interest?
Generally speaking, when the risk of an investment is low the return is what?
What is low?
Becoming accustomed to having a consistent supply of money or resources used for personal living expenses.
What is a standard of living?
Purchasing an item immediately after seeing it.
What is impulse buying?
This percent is considered the standard minimum amount to save when budgeting.
What is 10%?
Having the interest of an investment recalculate and add to the total on a daily, weekly or monthly basis.
What is compound interest?
These are issued to represents ownership of a business.
What is a stock?
Researching an item before you buy it, considering alternatives, watching for sales, read buying guides and comparison shopping.
What is a smart shopper?
Buying too much, or paying too high a price for food, snacks and drinks.
What are the effects of shopping hungry?
These are always budgeted for first.
What are needs?
A score that lenders will look at to determine whether a borrower should have money loaned to them.
What is a credit score?
A group of stocks or other investments that is professionally managed but funded by shareholders.
What is a mutual fund?
Product features, product quality and opinions of others.
What are the things you should research before buying an item?
Tactics employed by business' to get your attention and inform you about themselves so that you or those you know will spend your money on their goods and services.
What is advertising?
A great place to put this is in a bank account, or to invest.
What are places to store your savings?
The actual annual interest rate for a loan that compounds more frequently than annually is usually abbreviated into these three letters.
What is an Annual Percentage Rate (APR)?
Life insurance that covers the individual for a specific time period and has no cash-out value.
What is term life insurance?
Checking for the same or similar product on the internet, in similar stores, catalogs to review price and other important factors before deciding to make a purchase.
What is comparison shopping?
Advertising something for a very low price then trying to get the shopper to purchase something more expensive when they show up for the sale.
What is bait and switch?
Groceries, rent/mortgage, clothing, gas, home repairs, entertainment and mission fund
What are budget categories?
Good credit history, proof of income/employment, good references, and pay history.
What you need to have to get a loan?
Payments to shareholders based on their ownership value in the company.
What are dividends?