Finance management and insurance
3 common insurances
What is auto insurance, life insurance, and homeowners insurance?
Borrowed money, requiring payback(list 3 types)
What is student debt, credit card debt, and mortgage?
Good reason to spend money:
What are necessary repairs/needs?
To maintain a good credit score, you must...
What is managing debt wisely?
Investing is.
What is putting money in something and expecting profit?
Define a deductible.
What is the amount you pay for covered health care services before your insurance plan starts to pay?
cash reserve that's specifically set aside for unplanned expenses or financial emergencies
What is Emergency Fund?
Emergency funds do:
Paying only the minimum balance on your credit card can lead to.
What is late fees?
Which is higher risk, Bonds or stocks.
What is Stocks?
helps cover medical and legal fees if you're held legally responsible for someone else's injury, or damage to someone else's property
What is liability insurance?
a portion of monthly income that is saved for retirement...
What is Retirement Savings, 20%?
Making a budget, make room for...(3 ex)
What is financial goals, entertainment expenses, and charitable donations?
Benefits of having a good credit score
What is better interest rates on loans?
Investors with a _____ risk tolerance may have a short time horizon and are usually looking to maintain the value of their investments with minimal growth.
What is low risk tolerance?
Give an example of how to lower financial risks.
What is investing in safe stocks, and having emergency funds?
Examples of financial goals(short, middle, long) term
What is getting a job, buying a car, paying off student loans, buying a house?
Helps keep track of the money you receive, helps prioritize your spending, and helps reach long/short-term financial goals.
What is a budget?
The difference between credit and debit cards...
What are debit cards that use funds you already have, and credit cards use funds you don't have but pay back later?
Frank is an investor with a long time horizon and high-risk tolerance, which type of mutual fund is best for his portfolio?
What is an equity fund?
To prevent financial burden in the case of an accident, theft, or another event, you should purchase...
Jason is 58 years old, has strong financial health, a short time horizon, and an average risk tolerance. asset allocation.
What is 45% stocks and 55% bonds/cash equivalents?
50-30-20 budget
What is an individual's monthly net income into three components: 50% on needs, 30% on wants, and 20% on savings?
An item important to consider when selecting a credit card
What is the Annual percentage rate(APR)?
Looking to invest in a mutual fund focused on safety and minimal growth, which type of fund is recommended
What is fixed income fund, and money market fund?