Personal Finance Flashcards
(28 cards)
25% of kids believe they will do better financially than their parents? True or False
False
Loaning money to business/government paid back with interest
Bonds
Saving certificate fixed saving/interest rates
Certificate of deposit
Amount payed before benefits of insurance
Deductible
Criminal deception for financial gain
Fraud
Illegal use of someone else’s account
Identity theft
Money set aside for financial emergencys
Savings
Not an asset
Mortgage
Anything you owe; debt
Liabilities
Assets - Liabilities
Net worth
Most Liquidity (How easy to take out)
Savings ($1,200)
Long term investment
5 years
Double sum of money (Calculate amount of time)
Rule of 72
Low risk, high interest, savings account
Money Market Account
6% double money take (Rule of 72)
12 years
Sick/hurt/need of medical care
Health Insurance
Death of a relative; protects/provides
Life Insurance
Protects stuff where you live
Homeowners Insurance
Nine digit security number for identity in U.S citizen
Social Security Number
Asset passed down after death to friend or relative
Beneficiary
Pay out of pocket
Co-Pay
Rise of money for goods/services
Inflation
Professional who manages investments
Investment Advisor
Protects from lawsuit due to injury
Liability Insurance
