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