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Personal Finance > J Mac > Flashcards

J Mac Flashcards

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0
Q

What are some some the different benefits you need to consider when taking a job other than salary?

A

Health insurance, vacation

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1
Q

A job is ___

And a career is___

A

Short term

Long term

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2
Q

What’s the average cost of raising a child to 18?

A

165,000$

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3
Q

What’s the difference between a need and a want

A

You don’t need a want

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4
Q

Steps or goals to pay off things

A

Financial plan

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5
Q

How long is a short term goal

A

Less than 3 months

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6
Q

How long is an intermediate goal?

A

3 months to a year

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7
Q

How long is a long term goal

A

More than a year

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8
Q

What does the term cash flow refer to?

A

Movement of money

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9
Q

What is a budget or spending plan?

A

A spending plan for managing money

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10
Q

What are some of the common deductions the come out of people’s paychecks?

A

Federal taxes

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11
Q

Difference between gross income and net pay?

A

Gross pay is before deductions

Net is after

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12
Q

Difference between fixed expenses and variable expenses?

A

Fixed-same everytime

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13
Q

What is inflation?

A

Substantial rise in the general level of prices

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14
Q

What is time value of money?

A

The idea that a dollar today is worth more in the future

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15
Q

Interest paid on both the principle and on arrived interest

A

Compound interest

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16
Q

Simplified way to determine how long an investment will take to double

A

Rule of 72

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17
Q

The place where stocks are bought and sold

A

Stock market

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18
Q

The portion of the profits paid to the share holder of the company

A

Dividend

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19
Q

Difference between buying price and selling price of a stock.

A

Capital gain

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20
Q

Investment that makes the investor a part of a company

A

Stock

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21
Q

The spread of investments over difference investing

A

Diversification

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22
Q

First three steps of reaching financial peace according to Dave Ramsey?

A

Emergency fund
Payoff debt
3-6 month saving

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23
Q

Amount of money, something of value, that is loaned on trust, and is expected to be repaid

A

Credit

24
Q

What the 4 c’s of credit?

A

Collateral
Capital
Capacity
Character

25
Q

What is APR?

A

Annual percentage rate

26
Q

Amount a credit card company can charge for using a credit card

A

Annual fee

27
Q

Three main credit reporting agencies in the us?

A

Equifax
Experion
Transunion

28
Q

Process of getting out of debt

A

Bankruptcy

29
Q

When you Payoff the least expensive amount of debt first until you get to the most expensive is called?

A

Debt snowball

30
Q

What does ARM stand for in relating to mortgages?

A

Adjustable rate mortgages

31
Q

Insurance company with “Mayhem”

A

All-State

32
Q

Insurance helps to limit this so you are not stuck with tremendous out of pocket expenses

A

Risk

33
Q

Auto insurance that covers your car and the other person in an accident

A

Collision or full coverage

34
Q

Dave suggests that you have how many times your income in life insurance covers?

A

10 times as much

35
Q

The amount you pay for an insurance policy

A

Premium

36
Q

Like a good neighbor “____ ____” is there.

A

State Farm!

37
Q

The out of pocket expense you must pay before an insurance company kicks in its coverage is called what?

A

Deductable

38
Q

This is the minimum amount of coverage a driver must have in the state of TN to drive a car.

A

Liability

39
Q

What insurance has a gecko

A

Geico

40
Q

A means of guaranteeing your financial protection against various accidents

A

Insurance

41
Q

Covers restoration and monitoring services

A

Identity theft protection

42
Q

Cover the contents of an appartment

A

Renters insurance

43
Q

Designed to replace income lost if you cannot perform your job

A

Disability insurance

44
Q

Designed to replace income lost due to death.

A

Life

45
Q

Covers assisted living,in-home or nursing home care

A

Long term care

46
Q

A bad side effect to free downloads to send you pop up ads and redirect your computer to unwanted sites is called..

A

Spyware

47
Q

Allows employers to deposit your paycheck directly into your bank account

A

Direct deposit

48
Q

A for profit company owned by its investors in its stock

A

Bank

49
Q

Financial institution owned by their customers that are also called members

A

Credit union

50
Q

Fastest growing white collar crime in North America

A

Identity theft

51
Q

Caveat emptor

A

Buyer beware

52
Q

Wait how long before making a major purchases

A

Overnight

53
Q

Borrowing money and paying overtime

A

Loan

54
Q

Amount of money that cause some pain

A

Emergency fund

55
Q
A

✊

56
Q

True or false

Haters gonna hate

A

Truly

57
Q

Which teacher has the most swag

A

Mrs walker

58
Q

Mark is gay

A

True

Personal Finance (1 decks)

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