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Money
Banks and Banking
Credit
Insurance
Investing
100
exchange goods without involving money
What is Barter
100
A spending and saving plan based on your income and expenses. Helps you see where your money is going
What is Budget?
100
failure to pay back a loan
What is default?
100
protection against financial loss
What is insurance?
100
The possibility of a financial loss
What is risk?
200
the total amount you earn before any deductions are subtracted the amount of a paycheck after the deductions are taken out
What is the difference between Gross pay and Net pay
200
interest earned on both the principal amount and any interest already earned
What is compound interest
200
Experian, TransUnion, Equifax.
What is The three major credit bureaus?
200
Deductible
What we need to pay before the insurance company pay over bills?
200

A fund made up of different investments

What is a mutual fund

300

Who collects taxes and gives refunds

IRS

300
Saving and Loan bank?
What is S&L bank?
300
“Liquidation” Take in all your asset into cash.
What is Chapter 7 talk about?
300
Life insurance
You receive some money from your mom's insurance company after she die. What kind of insurance that she get?
300

You can place money here for a set term for a set interest rate

What is a CD?

400

Windfall income

What is the type of income that you did not earn

400
Income
Expenses + Saving = ?
400
Character(credit history) Capacity(ability to repay) Capital(assets)
What is the 3 C's of credit?
400
Formal request for payment, sent to the insurance company, to cover a loss
What is Claim?
400
because we want have more return.
Why we want to take more risk?
500

the principle that a dollar received today is worth more than a dollar received in the future

What is Time Value of money?

500
wages
What is the main income for young people(20~26)?
500
it will affect our whole life.
Why we need a high credit score?
500
Term insurance is less expensive than whole
What is the cost difference between whole and term insurance?
500
NO!
Will Stock Splits change you total value?