The amount you pay annually, quarterly or monthly

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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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14
_________ 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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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
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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25
A tax on the poor and
people who can’t do
math
Lottery
End
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26
The debt snowball is
baby step ______
2
End
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27
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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29
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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31
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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33
Finding the right place
in the store for a
product
Shelf Positioning
End
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34
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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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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39
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
45
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
49
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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51
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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53
Fee for an overdrawn
account
Non-Sufficient
End
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54
Used to help plan for
annual expenses
Lump Sum Planning
Form
End
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55
Used when you don’t
have a predictable
monthly income
Irregular Income Form
End
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56
Both parties benefit in
negotiations
Win-Win
End
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57
Bidding on items
Auction
End
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58
Bargaining for a lower
price
Negotiating
End
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59
Paying a lower price
for an item
Bargain
End
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60
Emotional, visual and
has immediacy
Cash
End
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61
Used to get something
else just before closing
a deal
"If I" take away
End
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62
It’s a myth that these
places have stolen
goods
Pawn Shop
End
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63
The ability to leave if
you are not satisfied
with the price offered
Walkaway Power
End
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64
Earning money based
on the work you do
Commission
End
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65
Don’t necessarily have
to work to earn this
Allowance
End
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66
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
70
70
Attitude about yourself
Self-Esteem
End
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71
Lists your personal,
work and education
history
Resume
End
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72
Used to fund
government programs,
agencies, roads, etc.
Federal Income Tax
End
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73
Source of revenue for
local governments
Property Tax
End
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74
Your line of work
career
End
75
75
Major source of
revenue for state
governments
Sales Tax
End
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76
The one thing you can
count on when it
comes to careers
Change
End
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77
Life insurance for a
specified period of time
Term Insurance
End
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78
The amount you pay
annually, quarterly or
monthly for insurance
Premium
End
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79
Provides an income if
the insured person is
unable to perform the
job he/she trained for
Occupational disability
End
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80
The time between the
disabling event and
when payments
Elimination Period
End
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81
Filed with an insurance
company to get
coverage for a loss
Claim
End
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82
Covers the contents of
a house or apartment
when you rent
Renter's Insurance
End
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83
Portion of the medical
bill you pay before
insurance kicks in
Deductible
End
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84
Insurance that covers
damage to a vehicle
due to an accident
Collision
End
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85
Covers damage to a
vehicle not due to an
accident
Comprehensive
End
86
86
Loan payments on a
house
Mortgage
End
87
87
An opinion of value on
what a house is worth
Appraisal
End
88
88
Experts in buying and
selling homes
Realtor
End
89
89
The balance of your
mortgage payment, not
including interest
Principal
End
90
90
The value of your
house minus what you
owe
Equity
End
91
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