vocab 1
coverage for an individuals (or familys) medical expenses from illness or injury
health insurance
a list of your investments
portfolio
the annual deadline for filing your income taxes; usally falls on april 15th
tax day
an official IRS inspection of a tax return to make sure that income and deductions are accurate
audit
all education that takes place after high school including university college community college certification or trade school
post secondary education
the process of setting money aside to increase wealth over time for long term financial goals such as retirement
investing
technical skills (typically learned) demonstrated with a level of competency requiring IQ
hard skills
optional extended liability coverage that can be added to auto and homeowner's policies
umbrella insurance
a type of insurance that will replace a portion of the policyholders income in the event that the policyholder becomes disabled and is unable to work
disability insurance
a qualified retirement saving plan offered by a company to its employees who contribute money for their gross pay
401 K
a fixed annual amount earned by an employee, typically paid weekly biweekly or monthly
salary
protection for destroyed or stolen property for a reenter
renters insurance
protection for damage to your car resulting from collision with another car or object
collision insurance
the average cost of the basic goods and services need to sustain a certain standard of living
cost of living
tax paid out by anyone who earns an income
income tax
the amount of money paid for an insurance policy
premium
a legal document listing how a person wants their assets distributed after death
will
a report that a taxpayer has to submit anualy to the government and is used to determine a persons tax liability
tax return
spending more than you earn an economic policy in which the government spends public funds raised by borrowing rather than by taxation
deficit spending
what color is the sky
blue