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Mar 31, 2015
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[email protected], Jody Gavers PERSONAL FINANCE L TO J
2
1
Place your emergency fund in this type of account.
Money Market
End
3
2
Baby Step one is ________.
$500-$1000
End
4
3
The typical American has a ________ savings rate.Negative
End
5
4
Saving must become a ________.
Priority
End
6
5
A fully funded emergency fund is ________ months of expenses.
3-6End
7
6
________ says that whatever can go wrong will go wrong.
Murphy's Law
End
8
7
The percentage by which your money grows is called the ________.
Rate of Return
End
9
8
Use the ________ approach instead of borrowing to purchase things.
Sinking Fund
End
10
9
Never invest using _________ money.
Borrowed
End
11
10
Oil and gold are examples of _________.
Commodities
End
12
11
When investing, you should always check the _________ track record.
5-10 year
End
13
12
_________ is for anything less than five years.
Saving
End
14
13
The availability of your money is called _________.
Liquidity
End
15
14
_________ are savings accounts with insurance companies.
Annuities
End
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15
In _________, investors pool their money.
Mutual Funds
End
17
16
A ________ is a debt instrument where a company owes you money
BondEnd
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17
A retirement plan for self-employed people.
SEPP
End
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18
Typical retirement plan found in most companies
401(k)
End
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19
Retirement plan found in non-profit groups (schools, hospitals)
403(b)
End
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20
Save for college by first using this type of accountEducational Savings Account
End
22
21
Invest 15% of income for retirement is baby step _______
4
End
23
22
College Funding is baby step
5
End
24
23
A widely held, but mistaken belief
Myth
End
25
24
Mortgage loans where the interest rate is adjusted periodically
ARM
End
26
25
A tax on the poor and people who can’t do math
Lottery
End
27
26
The debt snowball is baby step ______
2
End
28
27
Most expensive way to finance a new car
Leasing
End
29
28
Using equity in a home as collateral when borrowing money
Home Equity Loan
End
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29
Combining separate debt payments into one single payment
Consolidation
End
31
30
A drop in the value of property
Depreciation
End
32
31
The true cost of something in terms of what you give up
Opportunity Cost
End
33
32
Borrowing money and paying over time
Financing
End
34
33
Finding the right place in the store for a product
Shelf Positioning
End
35
34
Financing as a marketing tool
90 Days Same-as-Cash
End
36
35
Causes some pain when purchased with cash
Significant Purchase
End
37
36
Doubting a purchase
Buyer's Remorse
End
38
37
Insures you against an unclean title
Title Insurance
End
39
38
Experian, TransUnion, Equifax are examples of ________
Credit Bureaus
End
40
39
The percent of total debt each creditor gets when you can’t make minimum payments
Pro Rata
End
41
40
Court action that allows a lender to take wages directly from a paycheck
Garnishment
End
42
41
If you file ________ code, it will stay on your credit report for 10 years
Chapter 7 Bankruptcy
End
43
42
Protects the mortgage lender against loss if the loan is defaulted
PMI
End
44
43
The only information that can be legally removed from your credit bureau report
Inaccurate Information
End
45
44
Place a fraud victim alert on your credit report after this happens
Identity Theft
End
46
45
Amount of time a credit bureau has to remove inaccuracies from your report
30 days
End
47
46
Legal procedure for dealing with debt problems (filed under chapters)
Bankruptcy
End
48
47
Cash flow plan
Budget
End
49
48
A sign of crisis living
Bounced Checks
End
50
49
Spend every dollar on paper before the month begins
Zero-Based Budget
End
51
50
Checking your bank statement against your account register
Reconcile
End
52
51
Buying without thinking
Impulse Purchase
End
53
52
Used to pay cash for planned monthly expenses
Envelope System
End
54
53
Fee for an overdrawn account
Non-Sufficient
End
55
54
Used to help plan for annual expenses
Lump Sum Planning Form
End
56
55
Used when you don’t have a predictable monthly income
Irregular Income Form
End
57
56
Both parties benefit in negotiations
Win-Win
End
58
57
Bidding on items
Auction
End
59
58
Bargaining for a lower price
Negotiating
End
60
59
Paying a lower price for an item
Bargain
End
61
60
Emotional, visual and has immediacy
Cash
End
62
61
Used to get something else just before closing a deal
"If I" take away
End
63
62
It’s a myth that these places have stolen goods
Pawn Shop
End
64
63
The ability to leave if you are not satisfied with the price offered
Walkaway Power
End
65
64
Earning money based on the work you do
Commission
End
66
65
Don’t necessarily have to work to earn this
Allowance
End
67
66
Having to do with money
Fiscal
End
68
67
Taking responsibility
Accountable
End
69
68
What is important to you
Value System
End
70
69
Motivation to work
Work Ethic
End
71
70
Attitude about yourself
Self-Esteem
End
72
71
Lists your personal, work and education historyResume
End
73
72
Used to fund government programs, agencies, roads, etc.
Federal Income Tax
End
74
73
Source of revenue for local governments
Property Tax
End
75
74
Your line of work
careerEnd
76
75
Major source of revenue for state governments
Sales Tax
End
77
76
The one thing you can count on when it comes to careers
Change
End
78
77
Life insurance for a specified period of timeTerm Insurance
End
79
78
The amount you pay annually, quarterly or monthly for insurance
Premium
End
80
79
Provides an income if the insured person is unable to perform the job he/she trained forOccupational disability
End
81
80
The time between the disabling event and when payments
Elimination Period
End
82
81
Filed with an insurance company to get coverage for a loss
Claim
End
83
82
Covers the contents of a house or apartment when you rent
Renter's Insurance
End
84
83
Portion of the medical bill you pay before insurance kicks in
Deductible
End
85
84
Insurance that covers damage to a vehicle due to an accident
Collision
End
86
85
Covers damage to a vehicle not due to an accident
Comprehensive
End
87
86
Loan payments on a house
Mortgage
End
88
87
An opinion of value on what a house is worth
Appraisal
End
89
88
Experts in buying and selling homes
Realtor
End
90
89
The balance of your mortgage payment, not including interest
PrincipalEnd
91
90
The value of your house minus what you owe
EquityEnd
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