The amount of money an employee takes home, AFTER taxes are taken out

Broad issues that impact the entire economy.

Regular payments to an insurance company in return for insurance coverage

A loan that allows a homeowner to borrow against the equity of their home.

The “rent” you pay on the money you borrow.

A sustained increase in the general level of prices.

Upfront money used to pay for a portion of the house/car loan.

Anything owned, such as cars, motorcycles, and homes.

A mortgage with an interest rate that's the same for the life of the loan.

Written order from you instructing to pay money from an account to another.

The money a policyholder pays prior to the insurance company’s payment.

List of qualifications such as education and previous work history.

The forecast of future cash inflows and outflows.

Small ledger the bank provides for keeping track of your account balance.

A numeric score that assesses your creditworthiness.

The total amount of money earned before withholdings or taxes are taken out

Money received from various sources.

The total amount of money outstanding on a loan.

Money collected by the government from its citizens for operation

Access to a credit report to examine your credit history.

The study of individual choices or decisions made based on a single factor.

A person’s record of using credit.

Provides help in the event of certain types of financial loss.

A type of loan taken out to obtain a home.

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Basic Financial Literacy Vocab

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Questions 26

Answers

1
Net Pay
The time it takes to get your first paycheck after starting a new job.
The total amount of money earned before withholdings or taxes are taken out
The amount of money withheld for taxes and employee benefits.
The amount of money an employee takes home, AFTER taxes are taken out
2
Macroeconomics
The study of individual choices or decisions made based on a single factor.
The economics of big companies.
A way to check in on your personal financial history.
Broad issues that impact the entire economy.
3
Premium
The amount of money withheld for taxes and employee benefits.
Regular payments to an insurance company in return for insurance coverage
The best insurance money can buy.
The amount of money an employee takes home, AFTER taxes are taken out
4
Home Equity Loan
A type of loan taken out to obtain a home.
A loan that allows a homeowner to borrow against the equity of their home.
The study of individual choices or decisions made based on a single factor.
A mortgage with an interest rate that's the same for the life of the loan.
5
Interest
A sustained increase in the general level of prices.
The “rent” you pay on the money you borrow.
The total amount of money outstanding on a loan.
The forecast of future cash inflows and outflows.
6
Inflation
Money collected by the government from its citizens for operation.
Items such as homes, cars, and motorcycles.
An increase in your jobs pay each year.
A sustained increase in the general level of prices.
7
Down Payment
A loan that allows a homeowner to borrow against the equity of their home.
Upfront money used to pay for a portion of the house/car loan.
Money set aside for upgrading/repairing a home or car.
A type of loan taken out to obtain a home.
8
Assets
Anything owned, such as cars, motorcycles, and homes.
A persons record of using credit.
The money a policyholder pays prior to the insurance company’s payment.
The “rent” you pay on the money you borrow.
9
Fixed Mortgage Rate
A mortgage with an interest rate that changes based on the current rates.
A type of loan taken out to obtain a home.
A loan that provides help in the event of certain types of financial loss.
A mortgage with an interest rate that's the same for the life of the loan.
10
Check
A card attached to your checking account for regular purchases.
Small ledger the bank provides for keeping track of your account balance.
The way creditors assess your likelyhood to pay back loans.
Written order from you instructing to pay money from an account to another.
11
Deductible
Regular payments to an insurance company in return for insurance coverage
The money a policyholder pays prior to the insurance company’s payment.
What is left in your account every month AFTER all of your fixed expenses.
Provides help in the event of certain types of financial loss.
12
Resume
List of qualifications such as education and previous work history.
A type of loan taken out to obtain a home.
A list of places you would LIKE to work.
A long term rental agreement.
13
Budget
The forecast of future cash inflows and outflows.
Money received from various sources.
Money paid out, or spent.
List of qualifications such as education and previous work history.
14
Check Register
List of qualifications such as education and previous work history.
Written order from you instructing to pay money from an account to another.
Small ledger the bank provides for keeping track of your account balance.
The checkout at a standard retail store.
15
Credit Score
Access to a credit report to examine your credit history.
A person’s record of using credit.
Items you own such as cars, homes, and motorcycles.
A numeric score that assesses your creditworthiness.
16
Gross Pay
The amount of money an employee takes home, AFTER taxes are taken out
The amount of money withheld for taxes and employee benefits.
The total amount of money earned before withholdings or taxes are taken out
Amount of pay you earn on top of your regular job.
17
Cash Outflow
A steady increase in overall prices.
Money received from various sources.
Money paid out, or spent.
Items gained from risky investments.
18
Cash Inflow
Money received from various sources.
Money paid out, or spent.
Items such as home, cars, or motorcycles.
A brief snapshot of your credit history.
19
Principal
A loan taken out to purchase a home.
The "rent" you pay on the money you owe.
The general increase in prices.
The total amount of money outstanding on a loan.
20
Tax
The amount of money withheld for employee benefits.
The “rent” you pay on the money you borrow.
The amount of money taken home after withholdings.
Money collected by the government from its citizens for operation
21
Credit Check
A numeric score that assesses your creditworthiness.
A person’s record of using credit.
Access to a credit report to examine your credit history.
A broad issue that impact the entire economy.
22
Microeconomics
The forecast of future cash inflows and outflows.
The study of individual choices or decisions made based on a single factor.
Broad issues that impact the entire economy.
Money received from various sources.
23
Lease
A long term rental agreement
The “rent” you pay on the money you borrow.
Upfront money used to pay for a portion of the house/car loan.
An agreement for ONLY an apartment
24
Credit History
A numeric score that assesses your creditworthiness.
Access to a credit report to examine your credit history.
Small ledger the bank provides for keeping track of your account balance.
A person’s record of using credit.
25
Insurance
Regular payments to an insurance company in return for insurance coverage
The money a policyholder pays prior to the insurance company’s payment.
Provides help in the event of certain types of financial loss.
The study of individual choices or decisions made based on a single factor.
26
Mortgage
A loan that allows a homeowner to borrow against the equity of their home.
Any type of large loan taken out.
A long term rental agreement
A type of loan taken out to obtain a home.

Basic Financial Literacy Vocab Flashcards | StudBud