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28 Cards in this Set
- Front
- Back
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Credit backed by collateral
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Secured Loans
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Based on financial need:will not be charged interest until 6 months after graduation once you start paying the loan back
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Subsidized loan
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May change month-month depending on amount of comsumption
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Flexible Expenses
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Taking out a portion of your paycheck for saving/investing before spending
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Pay Yourself First
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Money paid out to receive in the future is money paid or received today
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Time Value of Money
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assets- liabilities
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Net worth
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A government insured account (FDIC) that has tiered interest rates
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Money Market Deposit
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A summary of your earnings and with-holdings for the year
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W-2 form
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how much interest you've made for the year
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1099 INT form
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Shows your tax returns and refunds
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1040ez form
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Verifies if you are eligible to work in the U.S
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I-9 form
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Determines your allowances and taxes with-held
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W-4
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The Federal agency that collects income taxes
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IRS (Internal Revenue Service)
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Gas,Alcohol, Tanning, and Cigarettes
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Excise Tax
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Federal Income Taxes, FICA, State Taxes, City Tax
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involuntary Deductions
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4.35%,6.2%,1.45%
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State Income Tax, Social Security, and Medicare percentages
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Payment History, Amounts Owned, Length of Credit History, New Credit, and Types of Credit
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Calculates FICO Score
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Experian, Equifax and TransUnion
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Three Credit Bureaus
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Police, Bank, Credit Bureaus
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Identity Theft Contacts
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The amount of money gained or lost on an investment compared to the amount invested
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ROI (Return on Investment)
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A high risk investment that invest money in certain markets that fluctuate depending in the market
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Speculative
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Record in writing, Smart Phone, Online Banking, and Computer Software
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Ways of Tracking Budgeting
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A account used to hold money not spent on current consumption.
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Savings Account
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a savings tool that entitles the holder to receive interest,and has a specified fixed interest rate* restricts the holder from withdrawing funds on demand
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Certificate of Deposit
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a tool used to transfer funds deposited into an account to make $ $ purchases
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Checking Account
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The timely manner in which a consumer did not repay debt
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Payment History (35%)
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The total dollar amount of debt currently held
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Credit usage (30%)
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Length of time a consumer had held credit accounts
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Length of History (15%)
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