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15 Cards in this Set
- Front
- Back
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Something that allows you to lower the amount of taxable income you made in a year |
Deductible |
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A request submitted to your insurance provider to help you pay for covered expenses |
Claims do |
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A document detailing the type and amount of coverage that your insurance offers |
Policy |
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An amount paid before a large purchase that reduces the loan amount and proves your intention and ability to make such a purchase |
Down payment |
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Anything that you spend money on whether it’s a necessity or a luxury |
Expenses |
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A contract that lets you use someone else’s property for a specified rate and length of time |
Lease |
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Debt to income ratio, the amp of money you make each month versus how much debt you have to pay. DTI is an important aspect of qualifying for credit |
DTI |
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A service that provides protection against unpredictable events such as car accidents or broken arms. |
Insurance |
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The amount that you own in assets minus the amount you owe in liability |
Net worth |
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The total amount of unpaid money on a loan excluding any interest charges |
Principal |
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Contributions to state and federal governments to pay for things like public services and infrastructure |
Taxes |
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A self funded retirement account that invests after tax dollars, meaning taxes don’t have to be paid when the funds are withdrawn at retirement |
Roth IRA |
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A self funded retirement account that invests pre tax dollars meaning taxes have to be paid when funds are withdrawn at retirement |
Traditional IRA |
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How easily accessible money is. A checking account is extremely liquid, a CD is not |
Liquidity |
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A loan used to buy a home, often with a term of 15-30 years |
Mortgage |
