Money and Banking
WIthout money you can use goods and products to trade and lend to other people for goods in return
bartering
A loan given to a corporation or the government
bonds
the monthly amount to be paid for an insurance policy
premium
A high level of risk in investment
speculative investment
The original amount of money that one borrowed
principal
Name all 3 Bankruptcy Chapters
7 (Liquidation)
11 (Reorganization of Business)
13 (Repayment Plan)
a person who buys and sells assets for others
broker
protects one from losing income when they get injured or have a health problem that forces them out of work
disability insurance
Rent is a fixed expense because it does not change based on your usage of your home. Grocery expenses are an example of a ________ expense
Variable
The term for planning your financial expenses, knowing your limits and having money set aside for emergencies
budgeting
The annual rate of interest that is charged for using credit
APR
a sum of money paid regularly by a company to its shareholders out of its profits
dividend
there is short term and long term, also known as "whole" (which often includes a cash value clause)
life insurance
Putting 10 percent of your paycheck in your savings account BEFORE paying for necessities
pay yourself first
a savings certificate that gains interest and has a set time before you can withdraw your money
Certificate of Deposit (CD)
A report dealing with a person's financial history specifically related to their ability to repay borrowed money
credit score
OR
FICO Score
a profit from an investment
capital gains
This is built into the cost of your monthly mortgage and covers the cost of damage to your property
Homeowner's insurance
How long it takes to double your money
rule of 72
Federal financial institution that makes bank deposits safe
FDIC
Highest credit score possible
850
an investment program funded by shareholders that trades in diversified holdings and is professionally managed
mutual fund
A person who benefits from and gains advantages from something (like an insurance policy)
beneficiary
Giving one thing up for something else that is more affordable
opportunity cost