jgavers@esu7.org, Jody Gavers
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PERSONAL FINANCE L TO J
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1
Place your emergency
fund in this type of
account.
Money Market
End
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2
Baby Step one is
________.
$500-$1000
End
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3
The typical American
has a ________
savings rate.
Negative
End
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4
Saving must become a
________.
Priority
End
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5
A fully funded
emergency fund is
________ months of
expenses.
3-6
End
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6
________ says that
whatever can go wrong
will go wrong.
Murphy's Law
End
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7
The percentage by
which your money
grows is called the
________.
Rate of Return
End
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8
Use the ________
approach instead of
borrowing to purchase
things.
Sinking Fund
End
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9
Never invest using
_________ money.
Borrowed
End
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10
Oil and gold are
examples of
_________.
Commodities
End
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11
When investing, you
should always check
the _________ track
record.
5-10 year
End
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12
_________ is for
anything less than five
years.
Saving
End
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13
The availability of your
money is called
_________.
Liquidity
End
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_________ are savings
accounts with
insurance companies.
Annuities
End
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15
In _________,
investors pool their
money.
Mutual Funds
End
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16
A ________ is a debt
instrument where a
company owes you
money
Bond
End
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17
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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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
account
Educational Savings
Account
End
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21
Invest 15% of income
for retirement is baby
step _______
4
End
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22
College Funding is
baby step
5
End
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23
A widely held, but
mistaken belief
Myth
End
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24
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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30
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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Causes some pain
when purchased with
cash
Significant Purchase
End
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36
Doubting a purchase
Buyer's Remorse
End
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37
Insures you against an
unclean title
Title Insurance
End
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38
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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40
Court action that
allows a lender to take
wages directly from a
paycheck
Garnishment
End
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41
If you file ________
code, it will stay on
your credit report for
10 years
Chapter 7 Bankruptcy
End
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42
Protects the mortgage
lender against loss if
the loan is defaulted
PMI
End
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43
The only information
that can be legally
removed from your
credit bureau report
Inaccurate Information
End
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44
Place a fraud victim
alert on your credit
report after this
happens
Identity Theft
End
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45
Amount of time a
credit bureau has to
remove inaccuracies
from your report
30 days
End
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46
Legal procedure for
dealing with debt
problems (filed under
chapters)
Bankruptcy
End
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47
Cash flow plan
Budget
End
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48
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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50
Checking your bank
statement against your
account register
Reconcile
End
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Buying without
thinking
Impulse Purchase
End
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52
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
End
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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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67
Taking responsibility
Accountable
End
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68
What is important to
you
Value System
End
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69
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
history
Resume
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
career
End
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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 time
Term 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 for
Occupational 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
Principal
End
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90
The value of your
house minus what you
owe
Equity
End
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