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Study sets matching "finance personal family"

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Study sets matching "finance personal family"

16 terms
Personal and Family Finance Unit 4
70-20-10 rule
Check 21
Debit card
Financial plan
a cash management tool in which 70% of income is spent, 20% i…
when a written check is electronically transferred and funds…
a card that automatically deducts money from your checking ac…
an orderly program for spending, saving, and investing the mo…
70-20-10 rule
a cash management tool in which 70% of income is spent, 20% i…
Check 21
when a written check is electronically transferred and funds…
75 terms
Personal family finance final
If someone dies without a will, who ha…
You should always read the fine print…
Everyone has the same amount of risk.
If someone dies without a will, a situ…
The state
True
False
True
If someone dies without a will, who ha…
The state
You should always read the fine print…
True
14 terms
Personal and Family Finance Unit 5
Beneficiary
Claim
COBRA
Co-insurance
a person named in an insurance policy to receive the money fr…
request given to an insurance provider to recover a cost of a…
temporary continued coverage of health insurance due to loss…
cost of claims shared by insurance company and insured after…
Beneficiary
a person named in an insurance policy to receive the money fr…
Claim
request given to an insurance provider to recover a cost of a…
15 terms
Personal/Family Finance Final
Ideas on teaching your children about…
Traits that can lead a person to debt
Reasons to save
Major credit bureaus
a. Teach them about credit cards and the danger of debt... b. Te…
a. Indulgence ... b. Ignoring financial situation ... c. Not planni…
a. To have an emergency fund... b. To be able to pay for big tic…
a. Equifax ... b. Experian... c. TransUnion
Ideas on teaching your children about…
a. Teach them about credit cards and the danger of debt... b. Te…
Traits that can lead a person to debt
a. Indulgence ... b. Ignoring financial situation ... c. Not planni…
122 terms
Personal/Family Finance Midterm
the bible contains 2,350 verses on how…
What percentage of everything Jesus ta…
what percentage of Americans live payc…
what is a financial statement or how d…
and possessions
15%
2/3rds or 66%
assets - liability
the bible contains 2,350 verses on how…
and possessions
What percentage of everything Jesus ta…
15%
18 terms
Personal Family Finance Final
Three guiding thoughts from this class
Teaching children about money
Buying a home
3 proverbs about money
a. Spend less than you make ... b. Save and invest for the futur…
a. the miracle of compounding interest ... b. Save to buy a home…
a. If possible, go for 15-year mortgage instead of 30... b. put…
a. Proverbs 13:1... b. Proverbs 11:18... c. Proverbs 16:8
Three guiding thoughts from this class
a. Spend less than you make ... b. Save and invest for the futur…
Teaching children about money
a. the miracle of compounding interest ... b. Save to buy a home…
53 terms
Personal & Family Finance
financial plan
Increased effectiveness in obtaining,…
life situation factors:
major events:
formalized report; summarizes current financial sitation; ana…
What are some advantages of financial planning?
martial status, household size, and employment
graduation, marriage, divorce, birth or adoption of child, an…
financial plan
formalized report; summarizes current financial sitation; ana…
Increased effectiveness in obtaining,…
What are some advantages of financial planning?
21 terms
Personal and Family Finance Unit 6
Annual Percentage Rate (APR)
Annual Percentage Yield (APY)
Balloon payment
Bankruptcy
yearly percent amount it will cost a person to use credit
yearly percent amount a person will earn on savings
a large final payment that is much larger than the other paym…
legal process that allows someone deeply in debt to create a…
Annual Percentage Rate (APR)
yearly percent amount it will cost a person to use credit
Annual Percentage Yield (APY)
yearly percent amount a person will earn on savings
13 terms
Personal and Family Finance Unit 8
Closing costs
Deed
Down payment
Equity
fees paid by the buyer or seller at the time the purchase of…
the legal document by which the title is transferred from one…
initial cash payment paid when buying an item on credit
the difference between the value of property and the amount o…
Closing costs
fees paid by the buyer or seller at the time the purchase of…
Deed
the legal document by which the title is transferred from one…
30 terms
personal & Family Finance
what is an item that is necessary for…
what is something that is unnecessary…
list 3 items that are needs:
A belief or practice that is important…
Needs
wants
food; water; shelter
values
what is an item that is necessary for…
Needs
what is something that is unnecessary…
wants
18 terms
PERSONAL AND FAMILY FINANCE- ECONOMY
Economy
Economic system
economics
gift economies
the range of economic activity in a country, region, or commu…
structure within a society that organizes the production, dis…
study of the ways in which money is created and used in socie…
situations where goods and services are exchanged without an…
Economy
the range of economic activity in a country, region, or commu…
Economic system
structure within a society that organizes the production, dis…
9 terms
Personal and Family Finance Unit 2 Terms
Career
Comp time
Entrepreneur
Fringe benefits
an occupation to which you have made a long term commitment
(compensatory time) when an employee works beyond their regul…
a person who owns and runs his or her own business
forms of reward for employment beyond salary, including healt…
Career
an occupation to which you have made a long term commitment
Comp time
(compensatory time) when an employee works beyond their regul…
87 terms
Personal family finance
What is a consequence of spending more…
What is not a factor in becoming money…
Why was the use of credit uncommon pri…
What is not a benefit of understanding…
Stress, a cycle of debt, and missed oppritunity to save
Learn how to read credit card statements
~ lending money to others... ~ laws prevented lenders from charg…
Knowing your money personality allows you to excuse excessive…
What is a consequence of spending more…
Stress, a cycle of debt, and missed oppritunity to save
What is not a factor in becoming money…
Learn how to read credit card statements
12 terms
Personal and Family Finance Unit 3 terms
Deductions
Direct deposit
Federal Insurance Contribution Act (FI…
Garnishment
amount of money taken from an employee's gross pay for taxes,…
an arrangement in which a person's pay is electronically tran…
Social Security and Medicare taxes
legal action which requires a portion of a person's income to…
Deductions
amount of money taken from an employee's gross pay for taxes,…
Direct deposit
an arrangement in which a person's pay is electronically tran…
21 terms
Personal and Family Finance Unit 6
Annual Percentage Rate (APR)
Annual Percentage Yield (APY)
Balloon payment
Bankruptcy
yearly percent amount it will cost a person to use credit
yearly percent amount a person will earn on savings
a large final payment that is much larger than the other paym…
legal process that allows someone deeply in debt to create a…
Annual Percentage Rate (APR)
yearly percent amount it will cost a person to use credit
Annual Percentage Yield (APY)
yearly percent amount a person will earn on savings
12 terms
Personal and Family Finance Unit 1 terms
Decision
Decision-making process
Goals
Long-term goals
the act of making a choice or coming to a solution
the steps one takes to make the best decision
something a person wants to have or to achieve, and is willin…
a goal that requires a considerable time to achieve
Decision
the act of making a choice or coming to a solution
Decision-making process
the steps one takes to make the best decision
16 terms
Personal and Family Finance Unit 4
70-20-10 rule
Check 21
Debit card
Financial plan
a cash management tool in which 70% of income is spent, 20% i…
when a written check is electronically transferred and funds…
a card that automatically deducts money from your checking ac…
an orderly program for spending, saving, and investing the mo…
70-20-10 rule
a cash management tool in which 70% of income is spent, 20% i…
Check 21
when a written check is electronically transferred and funds…
84 terms
Personal and Family Finance
Purchasing Automobiles (6 tips)
Where to Purchase a car
Financing a New car:
Leasing a vehicle:
1. Analyze needs vs. wants; new vs. used... 2. Determine what yo…
- Buying used from individual usually best if have car engine…
-Lenders usually require 20% down... - A new car depreciates 35-…
- You're in a long-term rental agreement with a limit on the…
Purchasing Automobiles (6 tips)
1. Analyze needs vs. wants; new vs. used... 2. Determine what yo…
Where to Purchase a car
- Buying used from individual usually best if have car engine…
67 terms
Personal Family and Finance Vocabulary
Anti-trust suits
Barter systems
Capital
Capitalism
Used to help encourage competition in a particular industry a…
Those that feature a direct exchange of goods without the use…
Refers to the goods and tools used to make products.
Characterized by privately owned businesses (or means of prod…
Anti-trust suits
Used to help encourage competition in a particular industry a…
Barter systems
Those that feature a direct exchange of goods without the use…
12 terms
Managing Personal and Family Finances
budget
budget variance
cash flow
cash flow statement
a spending plan created to help manage money
any difference between a budget and what was actually spent d…
the inflow and outflow of cash during a given time period
a record of income and expenditures for a particular period
budget
a spending plan created to help manage money
budget variance
any difference between a budget and what was actually spent d…
14 terms
Personal and Family Finance
Economy
Economic system
Economics
Gift economies
The range of economic activity in a country, region, or commu…
Is a structure within a society that organizes the production…
Is the study of the ways in which money is created and used i…
Consists of situations where goods and services are exchanged…
Economy
The range of economic activity in a country, region, or commu…
Economic system
Is a structure within a society that organizes the production…
36 terms
Personal Family Finance
POS
ACH Debit
ACH Debit BILLPAY
Reconciling a Bank Statement
Point of Sale
Automatic bank to bank money transfers ... Direct
Electronic, tell the banks when to pay the bills ... Bank writes…
Start with ending balance- add credits and subtract debits =…
POS
Point of Sale
ACH Debit
Automatic bank to bank money transfers ... Direct
59 terms
Personal and Family Finance
Inflation
Consumer Price Index
Hidden Inflation
Deflation
rise in the general level of prices. Buying power of the doll…
a measure of the average change in the prices urban consumers…
Cost of necessities (food, gas, health care) may rise at a hi…
A decline in prices. As prices drop, consumers expect they wi…
Inflation
rise in the general level of prices. Buying power of the doll…
Consumer Price Index
a measure of the average change in the prices urban consumers…
18 terms
Personal and Family Finance
3 largest investing companies
3 ways to spend less than you make
3 steps for buying house
3 things a will does
s and p 500, dow jones, nasdaq 100
know what you are making,, know what you are spending, keep w…
select a realtor, view homes, write a contract
who receives my stuff, who raised my children, who settles af…
3 largest investing companies
s and p 500, dow jones, nasdaq 100
3 ways to spend less than you make
know what you are making,, know what you are spending, keep w…
12 terms
Personal & Family Finance Unit 1
Decision
Decision-making process
Goals
Long-term goals
the act of making a choice or coming to a solution
the steps one takes to make the best decision
something a person wants to have or to achieve, and is willin…
a goal that requires a considerable time to achieve
Decision
the act of making a choice or coming to a solution
Decision-making process
the steps one takes to make the best decision
15 terms
Personal and Family Finance Final
Common Money Mistakes
Advantages of Giving
MVP Parenting
Ideas for Investing in the Future
Not planning ahead, Inadequate insurance coverage, People oft…
Increase in intimacy, Heaven and on Earth
Modeling, Verbal communication, Practical opportunities
Avoid "get rich quick" schemes, Diversify your investments, U…
Common Money Mistakes
Not planning ahead, Inadequate insurance coverage, People oft…
Advantages of Giving
Increase in intimacy, Heaven and on Earth
113 terms
Personal Family Finance Midterm
The Bible contains 2350 verses on how…
You might be surprised to learn that 1…
Two of every middle income americans (…
Net worth is assets minus liabilities.
...
...
...
...
The Bible contains 2350 verses on how…
...
You might be surprised to learn that 1…
...
186 terms
Personal & Family Finance Final
What is the main characteristic of a l…
Which of the following is not a charac…
In the United States, which agency ove…
Privately owned businesses are common…
c. A lack of regulations
c. Government ownership of businesses
b. Occupational Safety and Health Administration
d. Capitalist economies
What is the main characteristic of a l…
c. A lack of regulations
Which of the following is not a charac…
c. Government ownership of businesses
186 terms
Personal & Family Finance Final
What is the main characteristic of a l…
Which of the following is not a charac…
In the United States, which agency ove…
Privately owned businesses are common…
c. A lack of regulations
c. Government ownership of businesses
b. Occupational Safety and Health Administration
d. Capitalist economies
What is the main characteristic of a l…
c. A lack of regulations
Which of the following is not a charac…
c. Government ownership of businesses
99 terms
Personal and Family Finance (comprehensive- ALL UNITS)
Decision
Decision-making process
Goals
Long-term goals
the act of making a choice or coming to a solution
the steps one takes to make the best decision
something a person wants to have or to achieve, and is willin…
a goal that requires a considerable time to achieve
Decision
the act of making a choice or coming to a solution
Decision-making process
the steps one takes to make the best decision
118 terms
Personal and Family Finance Final
Which of the four Biblical principles…
The text asserts that debt is often sy…
Stewardship is the use of God-given go…
In which of the four Biblical Principl…
Faith Requires Action
Maintaining a lifestyle beyond our means
False (Stewardship is the use of God-given resources for the…
We are in a growth process.
Which of the four Biblical principles…
Faith Requires Action
The text asserts that debt is often sy…
Maintaining a lifestyle beyond our means
18 terms
Personal Family Finance Final
Traits that can lead a person into debt
Economic Dangers of debt from Master Y…
How to get out of debt and stay out
Teaching your children about money
a. Ignorance of financial situation: Know your net worth by s…
a. Copounding works against you instead of for you... b. Debt be…
a. Prepare your monthly budget... b. Start with paying off of th…
a. Modeling the behavior you want your childen to have... b. Ver…
Traits that can lead a person into debt
a. Ignorance of financial situation: Know your net worth by s…
Economic Dangers of debt from Master Y…
a. Copounding works against you instead of for you... b. Debt be…
18 terms
Personal & Family Finance Final
Make investments that let inflation wo…
Why it is important to balance your ch…
Different types of taxes
Goals to obtain financial peace
-Gold and silver... -Property... -Stocks
-It is the responsible thing to do... -It is the right thing to…
-Property... -Sales... -Inheritance
-Live below your means... -Bounce back from setbacks... -Have "stre…
Make investments that let inflation wo…
-Gold and silver... -Property... -Stocks
Why it is important to balance your ch…
-It is the responsible thing to do... -It is the right thing to…
10 terms
Personal Family Finance Final
What causes overdrafts
What kind of bank accounts should I have
What should I look for in a home
Getting started on buying a home
a. Incorrect math... b. Not keeping track of spending... c. Thinkin…
a. Savings... b. Checking for spending... c. Checking for direct de…
a. Price range... b. Location... c. Condition of the home
a. You should be staying in the area for 2+ years... b. How much…
What causes overdrafts
a. Incorrect math... b. Not keeping track of spending... c. Thinkin…
What kind of bank accounts should I have
a. Savings... b. Checking for spending... c. Checking for direct de…
186 terms
Personal & Family Finance Final
What is the main characteristic of a l…
Which of the following is not a charac…
In the United States, which agency ove…
Privately owned businesses are common…
c. A lack of regulations
c. Government ownership of businesses
b. Occupational Safety and Health Administration
d. Capitalist economies
What is the main characteristic of a l…
c. A lack of regulations
Which of the following is not a charac…
c. Government ownership of businesses
186 terms
Personal & Family Finance Final
What is the main characteristic of a l…
Which of the following is not a charac…
In the United States, which agency ove…
Privately owned businesses are common…
c. A lack of regulations
c. Government ownership of businesses
b. Occupational Safety and Health Administration
d. Capitalist economies
What is the main characteristic of a l…
c. A lack of regulations
Which of the following is not a charac…
c. Government ownership of businesses
186 terms
Personal & Family Finance Final
What is the main characteristic of a l…
Which of the following is not a charac…
In the United States, which agency ove…
Privately owned businesses are common…
c. A lack of regulations
c. Government ownership of businesses
b. Occupational Safety and Health Administration
d. Capitalist economies
What is the main characteristic of a l…
c. A lack of regulations
Which of the following is not a charac…
c. Government ownership of businesses
186 terms
Personal & Family Finance Final
What is the main characteristic of a l…
Which of the following is not a charac…
In the United States, which agency ove…
Privately owned businesses are common…
c. A lack of regulations
c. Government ownership of businesses
b. Occupational Safety and Health Administration
d. Capitalist economies
What is the main characteristic of a l…
c. A lack of regulations
Which of the following is not a charac…
c. Government ownership of businesses
60 terms
Chapter 7- personal family finance
D
B
B
B
32. (p. 218)... Which of the following is NOT correct?... A.... Rentin…
33. (p. 222)... Which of the following is a disadvantage of rent…
34. (p. 222)... Which of the following is an advantage of rentin…
35. (p. 222)... Most tenants sign a lease. Which of the followin…
D
32. (p. 218)... Which of the following is NOT correct?... A.... Rentin…
B
33. (p. 222)... Which of the following is a disadvantage of rent…
21 terms
Personal and Family Finance Module 1
Economy
Economic system
Economics
Gift economies
the range of economic activity in a country, region, or commu…
is a structure within a society that organizes the production…
is the study of the ways in which money is created and used i…
consist of situations where goods and services are exchanged…
Economy
the range of economic activity in a country, region, or commu…
Economic system
is a structure within a society that organizes the production…
16 terms
Personal & Family Finance unit 4
70-20-10
ATM
Check 21
financial plan
management tool in which income is spent, saved, and invested
technology that allows bank customers ot take action in their…
similar to a debit card
an orderly program for spending, saving, and investing money…
70-20-10
management tool in which income is spent, saved, and invested
ATM
technology that allows bank customers ot take action in their…
16 terms
Personal and Family Finance Unit 4
70-20-10 rule
Automated Teller Machine
Check 21
Debit card
a cash management tool in which 70% of income is spent, 20% i…
technology that allows a bank customer to make deposits and w…
when a written check is electronically transferred and funds…
a card that automatically deducts money from your checking ac…
70-20-10 rule
a cash management tool in which 70% of income is spent, 20% i…
Automated Teller Machine
technology that allows a bank customer to make deposits and w…
13 terms
Personal and Family Finance Unit 8
Closing costs
Deed
Down payment
Equity
fees paid by the buyer or seller at the time the purchase of…
the legal document by which the title is transferred from one…
Initial cash payment paid when buying an item on credit
the difference between the value of property and the amount o…
Closing costs
fees paid by the buyer or seller at the time the purchase of…
Deed
the legal document by which the title is transferred from one…
204 terms
Personal and Family Finance Exam 2
Beneficiary
Cash Value
Convertibility
Credit Life Insurance
Person or organization named in the policy that will be the r…
Life insurance policy that not only pays benefits at death, b…
Insurance offering the policyholder the option of exchanging…
Insurance against the outstanding balance of a loan in the ev…
Beneficiary
Person or organization named in the policy that will be the r…
Cash Value
Life insurance policy that not only pays benefits at death, b…
27 terms
Personal Family Finance Chapter 2
Money Management
Components of Money Management
A System for Personal Financial Records
Safe Deposit Box
the day-to-day financial activities necessary to manage curre…
Storing and maintaining personal financial records and docume…
Provides a basis for handling daily business affairs, such as…
A private storage area at a financial institution with maximu…
Money Management
the day-to-day financial activities necessary to manage curre…
Components of Money Management
Storing and maintaining personal financial records and docume…
12 terms
Personal and Family Finance Unit 1
Decision
Decision-Making Process
Goals
Long-term goals
the act of making a choice or coming to a solution
the steps one takes to make the best decision.
something a person wants to have or to achieve and is willing…
a goal that requires a considerable time to achieve
Decision
the act of making a choice or coming to a solution
Decision-Making Process
the steps one takes to make the best decision.
21 terms
Personal and Family Finance Unit 6
Annual Percentage Rate
Balloon payment
Bankruptcy
Capacity
yearly percent amount it will cost a person to use credit
a large final payment that is much larger than the other paym…
legal process that allows someone deeply in debt to create a…
as related to credit, the income a person has to use to repay…
Annual Percentage Rate
yearly percent amount it will cost a person to use credit
Balloon payment
a large final payment that is much larger than the other paym…
15 terms
Personal and Family Finance *module one*
Anti-trust Suits
Capital
Capitalism
Economics
Used to help encourage competition in a particular industry a…
Refers to the goods and tools used to make products.
Characterized by privately owned businesses (or means of prod…
The study of the ways in which money is created and used in s…
Anti-trust Suits
Used to help encourage competition in a particular industry a…
Capital
Refers to the goods and tools used to make products.
52 terms
Personal and Family Finance Ch 1
Personal Finance
Financial Literacy
Financial Responsibility
Financial Success
The study of personal and family resources considered importa…
Knowledge of facts, concepts, principles, and technological t…
Means that you are accountable for your future financial well…
The achievement of financial aspirations that are desired, pl…
Personal Finance
The study of personal and family resources considered importa…
Financial Literacy
Knowledge of facts, concepts, principles, and technological t…
12 terms
Personal and Family Finance Unit 1
Decision
Decision-Making Process
Goals
Long-term goals
the act of making a choice or coming to a solution
the steps one takes to make the best decision.
something a person wants to have or to achieve and is willing…
a goal that requires a considerable time to achieve
Decision
the act of making a choice or coming to a solution
Decision-Making Process
the steps one takes to make the best decision.
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