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20 Cards in this Set
- Front
- Back
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Financially capable |
means that you understand the basics of finance such as wisely making, spending, and saving your money |
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Budget |
a plan fo rthe use or management of money |
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Fixed expense |
a set amount of money due on a set date |
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Flexible expenses |
expenses that vary in amount |
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Lease |
a written rental agreement |
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Security deposit |
money given to the owner upfront |
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Utilities |
services such as electricity, water, telephone, and Internet access |
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Premium |
the amount of money you pay for insurance |
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Policy |
a legal contract that describes your rights and responsibilities as well as those of the insurance company |
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Deductible |
the money the policyholder pays |
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Health maintenance organization (HMO) |
a type of managed health care plan through which doctors and other medical professionals offer their services for a set fee |
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Preferred provider organization (PPO) |
an organization of doctors or hospitals that provides health care services at a reduced fee |
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Life insurance |
an agreement to pay money to a beneficiary upon the death of the insured |
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Disability insurance |
provides for people who become unable to work due to serious illness or injury |
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Property insurance |
protects your possessions against fire, theft, or other types of loss |
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Credit line |
the maximum amount that can be charged |
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Creditworthiness |
a judgment about a borrower's ability to repay the amount borrowed |
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Collateral |
something of value held by a lending institution in case you fail to repay |
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Credit rating |
an estimate of how likely you are to pay your bills on time |
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Identity theft |
occurs when someone uses your personal information, such as your name, Social Security number, or credit card number, without your permission to commit fraud or other crimes |
