Personal Finance 3 Flashcards
25% of students have “liked a brand on social media to receive an offer from that company
False
Advertising a lower priced item to lure customers in to offer them a more expensive item
Bait & Switch
A person or organization that uses a product or services
Consumer
Financial opportunity given up because you choose to do something else with your money
Opportunity Cost
Money plan that assigns an expense to every dollar of your income so that total income minus total expenses equals zero
Zero-based budget
Any activity that is performed for a fee
Services
Expenses that remain the same from month to month
Fixed expense
Expenses that vary or change from month to month
Variable Expenses
Type of retirement account that grows tax-free
Roth IRA
Monthly or yearly fee required in some community to provide benefits to residents
HOA Fee
Principle that money has different buying power than the same amount at a later date due to inflation
Time Value of Money
Amount of money available for spending and saving after income taxes have been taken out
Disposable income
A person or group that makes goods or services
Producer
Increase in the cost of goods & services over time
Inflation
A person who owns and runs a buisness
Entrepreneur
