Personal Finance Final

Which is more expensive? Public in-state or Publice out-of-state?

Income earned from things you own such as houses, land, buildings & earned money from books, software, music produced

A collection of stocks, bonds, and other investments owned by a group of investors who put their money together

Prices go up and down based on the demand of something and the supply for it

Needs are not necessary to survive. Wants are things you need to have.

Which component makes up 35% of the FICO score?

When income is less than expenses it is called profit.

A person who works for someone else in exchange for money

An unlimited amount of wants but limited resources is called scarcity.

Global trade happens between countries in the form of imports and exports

Interest paid only ono the principal investment

A debit card is a plastic card used to buy goods or services using debt.

Financial aid that does not need to be repaid; awarded on the basis of academic, athletic, achievement, other criteria

A student loan is an educational loan at lower interest rate generally with no payments until after you're out of school

An agreement where policyholder transfers the risk for potential financial losses to another party in exchange for a fee

Because of inflation, your money can be worth what in the future?

Your credit score is an "I love debt score!"

Which component(s) make up 10% of the FICO score?

Protects the stuff where you live

A person or company who loans money

An obligation to repay borrowed money is a debt

Payment for work, usually calculated in period of a week or longer

When you become the opposite of selfish, you become what?

Career is your line of work

Income from investments, interest, and earnings including the sale of investments at a higher price than paid for

Protects you when you are sick or hurt and need medical care

You don't need to have a credit card.

Which college is the most expensive college to attend?

Anything you owe; a debt

Savers will naturally do what with their money?

The total value of a person's assets minus their liabilities

A short-term, personal loan to purchase a car.

A loan of money to a business or government that is paid back with interest over time.

The part you pay before the insurance company pays their part is called what?

Investing is for the long term.

The amount of money you get to take home after taxes and deductions

Spenders will naturally what with their money?

The money you pay for insurance is called what?

Using a credit card means you use debt to buy stuff.

The granting of a loan and the creation of debt is debit.

There are 3 basic reasons to save money. They include:

Which college is the cheapest college to attend?

When you invest, your money can be worth what in the future?

The 5 Foundations include all of the following except:

Protects your car, the people in your car, and you

Any income produced by working at a job as an employee

Debt level makes up 30% of the FICO score.

You need to save up and pay for things with a credit card.

Payment for work, usually calculated in periods of an hour.

Saving is for the ?

Becoming money smart involves work, spend, save, and give.

Long term investing is investing for 2 years or more.

The following things are all someone needs to open an account in your name:

A compensation package is made up of what?

Find a job or career that blends 2 things: something you're good at and love to do.

Certificate of deposit; saving certificate with a fixed saving period and fixed interest rate

Traditional, command, market, and mixed are the 4 primary economic systems.

A person who organizes and runs a business

Inflation is the rate at which the prices for goods and services rise

Long term care provides your health care needs at age 60 and older.

Student loans can limit your options on what you want to go with your life.

Interest paid on an investment and on any interest previously earned

Which component makes up 15% of the FICO score?

Whether it's credit cards, student loans, or car loans, going into debt is always a what kind of idea?

The cost of goods or services

Anything of value that is owned by an individual

Investments that represent small pieces of ownership in a company

Protects and provides for family members in the event of a death

Protects you if an injury prevents you from doing your job and earning an income

The charge or fee for going to a school/college/university