Fill in the Blank - Personal Finance

fire alarms

1 way you can protect from fire damage

check pipes

1 way you can protect from water damage

video

1 way you can take inventory to protect yourself

alarm system

1 ways you can reduce risk to your home or house from a burglar

Pro Can't spend more than you have. Can't get in debt. Con If stolen, it is gone; not insured No rewards

2 pros and cons for cash

Pro Rewards Spend money that's not yours Con Interest if not fully paid off Late fees

2 pros and cons for credit cards

Health Insurance Dental Insurance

2 types of benefits that MIGHT have been deducted from paychecks

Step #1 Fill out application and bring paycheck stub and photo ID Step #2 Sign agreement, write postdated check and receive money Step #3 Check is held until loan payment is due. Lender deposits checks

3 steps in taking out a payday loan

Call Dealership Call State's Attorney Call FTC

3 steps to follow if you happen to buy a "lemon"?

paid vacation child care travel expenses insurance

4 benefits you could receive from a job

lease

A _______ is a written agreement that allows a tenant to use property for a set period of time at a set rent payment.

Notary public

A ________ verifies a person's identity, witnesses the person's signature on a legal document, and then "notarizes" the signature as valid.

register

A booklet used to record checking transactions is called a checkbook __________

overdraft

A check written for more money than your account contains is called an _______

600

A credit score below _______determines if a customer is a risky borrower.

down payment

A large sum of cash you pay up front when you purchase a home is called a ___________.

check

A(n) ______ is a written order to a bank to pay the amount stated to the person or business named on it.

debit

A(n) __________ card is a plastic card that allows immediate deductions from a checking account to pay for purchases.

blank

A(n) ________endorsement is the signature of the payee written exactly as his or her name appears on the front of the check.

percentage

APR is the cost of the loan per year as the ________ of the amount borrowed

15

Credit card companies have to give you a ____ day warning before they increase the interest rate.

safe deposit

Financial institutions offer customers a _________ box to store valuable items or documents.

As is

If you buy a vehicle without a warranty, what would it be considered?

Kelley Blue Book

Is the online guide you can use to shop for vehicles that helps you find accurate prices.

Character- they look at what you're wearing and how respectful you are, and make a first impression and judge you Collateral - they look at that what you own and what they could take away from you if you don't pay back the loan

List 2 of the 5 Cs of creditworthiness and describe them

gender, age, driving record

List 3 of the 5 things that determines your premium

How are your employee's paid? What services do you offer? Do you offer free information?

List 3 of the 9 important questions to ask when choosing a credit counselor

Deter, Detect, Defend

List the 3 "D's" of ID Protection

interest rate, monthly payment

Money down not only reduces your _______, but it may have an effect on your ______________.

revolvers

People who do not pay off their bills are called ________by the credit card companies.

deadbeats

People who pay off their bills are called _________by the credit card companies.

Marquette

The ______decision allowed banks to export their interest rates to other states.

principle

The amount of money you deposit into a savings account is called the _________.

lower, higher

The longer the loan term, the ________your payments, but the ________the interest.

Lemon

To protect consumers' rights, each state has its own regarding the purchasing on used cars

Federal Insurance Contribution Act Social Security and Medicare

What does FICA stand for? What does it include?

Add symbols

What is something that has been changed for users to make passwords harder to guess?

credit report

What should people check every year to make sure their ID has not been stolen?

Liabilities

When determining your net worth, what term means the things you OWE?

Assets

When determining your net worth, what term means the things you OWN?

overdraft

With _________ protection, your checks will be covered even if you have insufficient funds in your checking account.

Payment History 35% Amounts Owed 30%

Your FICO score is based on 5 things. List 2

FICO

Your ______ or credit score determines the interest which you will pay.

renting

______ is the process of using another person's property for a fee.

Safety

__________ of principal means that you are guaranteed not to lose your savings deposit, even if the bank or other financial institution fails and goes out of business.

Credit limit

_________is the maximum amount you can borrow or be loaned.

rental agreement

a _________ is a written agreement that allows you to leave anytime as long as you give the required notice; these are often called month-to-month agreements.

duplex

a building with 2 separate living units is called a ____________

townhouse

a living space that has 2 or more levels is called a ________

security deposit

a_________ is a refundable amount a renter pays in advance to protect the owner against damage or nonpayment.

bundling

combining telephone, internet services, and cable tv into 1 package is an example of___________.

eviction

the legal process of removing a renter from rental property is called ___________.

FICA Federal Income Tax

types of deductions ALWAYS seen on all paychekcs

Notary public

verifies a person's identity, witnesses the person's signature on legal documents, and then "notarizes" the signatures as valid