Money
Budgeting
Banking
Credit
Insurance
Investing
Retirement
Taxes
Ms B Random
100
The amount an employee earns as compensation for services performed for an employer prior to all payroll deductions for taxes, benefits or wage garnishments
Gross Pay
100
Balanced Budget
100
How do checking accounts differ from savings accounts?
Checking: unlimited transactions, no interest earned
Savings: 6 withdrawls a month, interest earned
100
Credit Score
100
The amount of the loss which the insured is responsible to pay before benefits from the insurance company are payable.
Deductible
100
This is an example of:
Investment diversification
100
________represent value of ownership that can be converted into cash
Assets
100
An "Employee's Withholding Certificate," is an IRS form that employees fill out and submit to their employers, typically when starting a new job.
W-4
100
Name of younger child
McKinley
200
An employee's earnings after all deductions are taken out.
Net Pay
200
The loss of potential gain from other alternatives when one alternative is chosen
Opportunity Cost
200
In simple terms, this is how quickly you can get your hands on your cash.
Liquidity
200
Any fee representing the cost of credit, or the cost of borrowing. It is interest accrued on, and fees charged for, some forms of credit.
Finance Charge
200
The amount of money an insurance company charges for insurance coverage.
Premium
200
American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization
NYSE
200
A _______________savings plan is an investment account that allows a taxpayer to postpone paying income taxes on the money invested until it is withdrawn, generally after retirement
Tax deferred
200
Tax on specific goods or services at the time they are purchased.
excise tax
200
Newest dog's name
Lola
300
A sudden increase in profits typically caused by an unexpected event or circumstance
Windfall Income
300
Money you have left over after paying taxes and necessary cost-of-living expenses.
Discretionary income
300
Give an example of a SECURED loan
Car/auto or mortgage
300
A credit line that remains available even as you pay the balance
Revolving Credit
300
The full cost to repair or replace the damaged property with no deduction for depreciation, subject to policy limits and contract provisions.
Replacement Value
300
Stock market index of 30 prominent companies listed on stock exchanges in the United States
Dow Jones
300
A program that provides support to disabled adults and children who have limited income and resources, as well as people age 65 and older who are not disabled but have limited income and resources.
Social Security
300
A tax paid on property owned by an individual or other legal entity, such as a corporation.
Property Tax
300
True or False??
Ms. B has always wanted to be a teacher.
True.....for now.
400
Legal procedure in which a person's earnings are required by court order to be withheld by an employer for the payment of a debt such as child suppor
Garnishment
400
The amount of money you have left after paying taxes.
Disposable Income
400
A _____________account is an interest-bearing account that you can open at banks and credit unions. They are very similar to savings accounts, but they offer some checking account features as well. These accounts pay competitive rates and are a safe place to save your money
Money Market Account
400
Usually a short-term, high cost loan, generally for $500 or less, that is typically due on your next payday.
Payday Loan
400
Health insurance that provides income payments to the insured wage earner when income is interrupted or terminated because of illness, sickness, or accident.
Disability Insurance
400
A portion of a company's profit paid to shareholders.
Dividends
400
An individual retirement account (IRA) is an account used to save for retirement. A _______ is a special type of tax-advantaged individual retirement account to which you can contribute after-tax dollars.
Roth IRA
400
The vrevenue service for the United States federal government, which is responsible for collecting U.S. federal taxes and administering the Internal Revenue Code, the main body of the federal statutory tax law.
IRS
400
County Ms. B previously taught in
Fairfax Co
500
Social Security Tax
FICA
500
How should your divide your income?
50% on needs, 30% on wants, and 20% on savings
500
The ___________ is a United States government corporation supplying deposit insurance to depositors in American commercial banks and savings banks.
FDIC
500
This is a “second chance” to regain control of your finances by having most of your unsecured debt, including credit card debt, medical bills, and personal loans legally discharged by a court. Stays on credit report for 10 years.
Chapter 7 Bankruptcy
500
federal health insurance program for:
- People who are 65 or older
- Certain younger people with disabilities
- People with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant, sometimes called ESRD)
Medicare
500
The shares of an established, profitable, and well-recognized corporation. ________ are characterized by a large market capitalization, a listing on a major stock exchange, and a history of reliable growth and dividend payments.
Blue Chip Stocks
500
An employee benefit that commits the employer to make regular contributions to a pool of money that is set aside in order to fund payments made to eligible employees after they retire.
Pension Plan
500
True or False??
All US state residents MUST pay income, sales, property, and excise taxes.
FALSE
Not all states levy sales taxes.
There are five states with no general statewide sales tax: Alaska, Delaware, Montana, New Hampshire, and Oregon.
Nine states — Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming — have no income taxes.
500
Ms. B's birthday
Jan 2