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Study sets matching "financial lit"

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Study sets matching "financial lit"

11 terms
Financial literature
Adult life cycle
Bankruptcy
Economics
Financial plan
The stages in the family situation and financial needs of an…
Is a set of federal laws allowing you to either restructure y…
Is the study of how wealth is created and distributed
Is a formalized report that summarizes your current financial…
Adult life cycle
The stages in the family situation and financial needs of an…
Bankruptcy
Is a set of federal laws allowing you to either restructure y…
69 terms
Financial literature
interest
economics
Future values
Federal Reserve system
the price that is paid for the use of another's money
the study of the decisions that go into making, distributing…
the amount your original deposit will be worth in the future,…
The central banking organization of the United States
interest
the price that is paid for the use of another's money
economics
the study of the decisions that go into making, distributing…
Financial Literature
What is a credit score?
What is a credit card?
What is a credit limit?
What is an APR (annual percentage rate)?
mathematical number created to help evaluate the risk with le…
pre-approved credit which can be used for the purchase of ite…
Maximum amount of credit a client can have
Interest rate charged to the cardholder on the amount borrowe…
What is a credit score?
mathematical number created to help evaluate the risk with le…
What is a credit card?
pre-approved credit which can be used for the purchase of ite…
95 terms
Financial Literature
Bait and Switch
Bankruptcy
Bear Market
Beneficiary
An illegal technique in which the business advertises a barga…
A legal procedure to relieve a person of excessive debt
Period in the stock market when prices are steadily decreasing
The person designated to receive money from a life insurance…
Bait and Switch
An illegal technique in which the business advertises a barga…
Bankruptcy
A legal procedure to relieve a person of excessive debt
12 terms
Financial Literature
Spending Log
Delayed Gratification
Needs
Wants
Record everything you spend money on and how much you spend e…
The importance of waiting until you know you can afford somet…
Things that are essential to your health and security
Makes life more interesting and fun
Spending Log
Record everything you spend money on and how much you spend e…
Delayed Gratification
The importance of waiting until you know you can afford somet…
22 terms
Financial Literature
compounding interest
stocks
blue chip
bonds
interest added to the principal of a deposit or loan so that…
a type of security that signifies ownership in a corporation…
stock of a large well established and financially sound compa…
a debt investment in which an investor loans money to an enti…
compounding interest
interest added to the principal of a deposit or loan so that…
stocks
a type of security that signifies ownership in a corporation…
Financial Literature
5 Sources of Income
Personal
Business
Government
Personal, Business, Government, Investment, Commissions
Salary & wages
Entrepreneurship
Programs funded through taxes (i.e. Social security- (Medicar…
5 Sources of Income
Personal, Business, Government, Investment, Commissions
Personal
Salary & wages
17 terms
Financial literature Chap 1
Job market
Job skills
Job title
Job description
Refers to the wide variety of job and career choices.
Specific things you can do, such as prepare a spreadsheet, et…
Is a name given to a particular job
Gives details about a job
Job market
Refers to the wide variety of job and career choices.
Job skills
Specific things you can do, such as prepare a spreadsheet, et…
72 terms
Financial Literature Study Guide
Late payment fee
Discount
Insurance
Over-the-limit fee
____ is charged when a cardholder does not make the minimum p…
____ brokerage firms only complete orders to buy and sell inv…
____ is a financial product purchased by many people facing s…
____ is charged if the amount of money charged goes over the…
Late payment fee
____ is charged when a cardholder does not make the minimum p…
Discount
____ brokerage firms only complete orders to buy and sell inv…
30 terms
Test for Financial Literature
demand
economist
economy
ethics
The willingness and ability of consumers to buy products and…
person who studies the production, distribution, and consumpt…
The sum total of business activity within an area
A system of moral values that people
demand
The willingness and ability of consumers to buy products and…
economist
person who studies the production, distribution, and consumpt…
31 terms
Financial literature final
What is the difference between gross i…
What is the difference between fixed,…
Define net worth assets and liabilities
What is the difference between short-t…
•Gross income: total income... •Net income: a companies total in…
• fixed expenses: spending that remains the same every month…
Net worth: all assets subtract liabilities= net worth... Assets:…
Short term: less than a year ... Med. term: 1-5 years... Long term:…
What is the difference between gross i…
•Gross income: total income... •Net income: a companies total in…
What is the difference between fixed,…
• fixed expenses: spending that remains the same every month…
14 terms
Financial Literature short answer
two hard skills and two soft skills
one advantage and disadvantage to self…
3 needs and 3 wants
5 steps to creating a financial plan i…
hard skill: able to perform surgery... soft skill:people skills
advantage-keep all the profit... disadvantage-take all risks, if…
needs:food/water,shelter,clothing,healthcare... wants:makeup, ca…
1)gather info... 2)analyze info... 3)set goals... 4)create a timeline…
two hard skills and two soft skills
hard skill: able to perform surgery... soft skill:people skills
one advantage and disadvantage to self…
advantage-keep all the profit... disadvantage-take all risks, if…
33 terms
Financial Literature: Chapter 6
Gross Pay
Overtime
Deductions
Net Pay
The total amount you earn before any deductions are subtracted.
Time worked beyond regular hours.
Amounts subtracted from your gross pay.
The amount left after all deductions are taken out of your gr…
Gross Pay
The total amount you earn before any deductions are subtracted.
Overtime
Time worked beyond regular hours.
20 terms
Unit 9 financial literature
Budget
Consumer
Credit
Economy
an estimate , often itemized , of expected income and expense…
a person who purchases goods and services for personal use
time allowed for payment for goods or services obtained on tr…
the wealth and resources of a country or region, esp. in term…
Budget
an estimate , often itemized , of expected income and expense…
Consumer
a person who purchases goods and services for personal use
Financial Literature set
deposit money
withdrawal money
transaction
savings account
money placed into a bank
to remove money from a bank
to pay with cash instead of a credit or debit card
a bank account that earns interests
deposit money
money placed into a bank
withdrawal money
to remove money from a bank
12 terms
Financial Literature Review
Net pay
Flexible expenses
Fixed expenses
Income
Money left after deductions have been taken from a paycheck
Expenses that change from month to month like groceries or cl…
Expenses that remain constant in a budget, like rent or a car…
Money recieved
Net pay
Money left after deductions have been taken from a paycheck
Flexible expenses
Expenses that change from month to month like groceries or cl…
14 terms
Financial Literature Vocab
Overdraft Protection
Direct deposit
Property tax
Medicare
Arrangement with the bank to cover checks so they will not bo…
Money automatically put into your savings account
Tax paid by people who owns items such as homes land and vehi…
A federal government program funded through payroll taxes pay…
Overdraft Protection
Arrangement with the bank to cover checks so they will not bo…
Direct deposit
Money automatically put into your savings account
10 terms
financial literature:basics
Consumer
Creditor
Finance Charge
Prime Rate
person who acquires goods or services for direct use or owner…
person who has loaned money to someone on credit through a loan
interest charged for charges made on a credit card or other t…
minimum interest rate charged by a commercial bank on short-t…
Consumer
person who acquires goods or services for direct use or owner…
Creditor
person who has loaned money to someone on credit through a loan
52 terms
Financial Literature - Banking
arriba
el techo
la cortina
el aire acondicionado
up, above
roof, ceiling
curtain
air conditioning
arriba
up, above
el techo
roof, ceiling
26 terms
Financial Literature Test 1
Risk
Return
EPS (Earnings per share)
Capital Gain
(in insurance) the uncertainty about whether a financial loss…
the total income from an investment, including current income…
a measure of the profitability of a firm on a per share basis…
incomes received from the sale of a capital asset above the c…
Risk
(in insurance) the uncertainty about whether a financial loss…
Return
the total income from an investment, including current income…
80 terms
Financial Literature #2
Decision-Making Process Steps
Factors that can Influence a Decision
Factors that can Influence a Decision
T-Chart
*Identify the problem... *Gather information and list possible a…
A.Values... What is important to your family, others in your cul…
E.Family... Your family's preference... Decisions other family memb…
Using a T-chart to list pros and cons related to decisions ca…
Decision-Making Process Steps
*Identify the problem... *Gather information and list possible a…
Factors that can Influence a Decision
A.Values... What is important to your family, others in your cul…
Financial Literature Insurance
Premiums
Policy
Insurance
Risk
money that has to be paid to buy a policy
contract between an insurance company and the insured. This s…
pay to be protected
chance of loss due to an event that can't be completely contr…
Premiums
money that has to be paid to buy a policy
Policy
contract between an insurance company and the insured. This s…
16 terms
Personal Financial Literature
Income taxes
Gross Pay
Net Pay
Checking Account
Taxes on income, both earned (salaries, wages, tips, commissi…
Amount of salary or wages earned for a certain period of time…
Amount of income left after taxes and deductions have been ta…
An account at a bank against which checks can be drawn by the…
Income taxes
Taxes on income, both earned (salaries, wages, tips, commissi…
Gross Pay
Amount of salary or wages earned for a certain period of time…
22 terms
Financial literature Standard 1
career
earned income
human capital
human capital investment
A purposeful course of action or purpose in life that general…
money received for work performed
The health, education, experience, training,skills, and value…
investment of time, effort and resources in education and tra…
career
A purposeful course of action or purpose in life that general…
earned income
money received for work performed
21 terms
Personal Financial Literature Terms
Revenue
Expenditure
Expansion
Contraction
...
A government purchase
...
...
Revenue
...
Expenditure
A government purchase
40 terms
financial literature exam
a good age to open a checking account…
if your mortgage payment exceeds 25% o…
the number one cause of divorce in thi…
the power of cash is immediate
true
true
true
true
a good age to open a checking account…
true
if your mortgage payment exceeds 25% o…
true
28 terms
Financial Literature: Taxes
revenue
progressive tax
regressive tax
proportional tax
incoming funds to the government collected from individuals a…
a tax that takes a larger share of one's income as the amount…
a tax that takes a smaller share of one's income as the amoun…
a tax for which the rate stays the same regardless of one's i…
revenue
incoming funds to the government collected from individuals a…
progressive tax
a tax that takes a larger share of one's income as the amount…
56 terms
Financial Literature (Quarter 2)
T or F: Income from rental properties…
What do the Securities and Exchange Co…
What is a mutual fund?
T or F: A prospectus discloses informa…
False
Largest financial advicers
Investment which investors put money to buy stock, bonds, or…
True
T or F: Income from rental properties…
False
What do the Securities and Exchange Co…
Largest financial advicers
29 terms
Financial literature test #2
Disposible income
Unearned income
Transfer payments
Tax
The money a person has available to spend or save after taxes…
Money received from sources other then working in a job
Money or benefits received from the gov. without working for…
A required payment for the support of the gov., such as incom…
Disposible income
The money a person has available to spend or save after taxes…
Unearned income
Money received from sources other then working in a job
16 terms
Financial Literature: Credit/Debit cards
what is Annual Percentage Rate (APR)
what is a Credit limit
what is a Interest
what is Variable expenses
The total cost of credit for one year, expressed as a percent…
The maximum amount of credit extended to you by a bank or cre…
FEE ATTACHED TO BORROWED MONEY
Expenses that can be controlled and that change from month to…
what is Annual Percentage Rate (APR)
The total cost of credit for one year, expressed as a percent…
what is a Credit limit
The maximum amount of credit extended to you by a bank or cre…
24 terms
Unit 3 Financial Literature Vocabulary
automatic deposit
automatic withdrawal
bounced check
cashier´s check
money electronically added to a checking or savongs account
money deducted from an account and electronically transferred…
a check that is returned by the bank for non-sufficient funds
a check issued by the bank against bank funds
automatic deposit
money electronically added to a checking or savongs account
automatic withdrawal
money deducted from an account and electronically transferred…
14 terms
Personal financial literature chpt 1
Baby step 1
Saving must become a ______
Who do you pay first
How much does the average American hav…
$1,000 in an emergency fund... -if you make under $20 k per year…
Priority
Pay yourself
$3,800
Baby step 1
$1,000 in an emergency fund... -if you make under $20 k per year…
Saving must become a ______
Priority
20 terms
Financial Literature---2/24/16
Demographic trends, geographic trends,…
Part-time jobs, volunteer work, class…
Public speaking, research, goals setti…
Programs that allow students to enhanc…
The four things that affect career option
List three areas you can obtain employment experience
List class projects and after school activities good for empl…
Definition of cooperative education
Demographic trends, geographic trends,…
The four things that affect career option
Part-time jobs, volunteer work, class…
List three areas you can obtain employment experience
21 terms
Financial Literature Ch. 9-11
fixed rate mortgages
adjustable rate mortgage
2 Types of mortgage
5 Elements of Buying a House
conventional mortgages. mortgage with a fixed interest rate a…
variable-payment mortgage is a mortgage wiht an interest rate…
adjustable rate mortgage... fixed rate mortgage
location... down payment... mortgage rates and points... closing cost…
fixed rate mortgages
conventional mortgages. mortgage with a fixed interest rate a…
adjustable rate mortgage
variable-payment mortgage is a mortgage wiht an interest rate…
Financial literature Vocab Test 1
Variable income
Variable expenses
Income
Fixed income
Income that varies from week to week or month to month
Expenditures that change from week to week or month to month-…
Money earned from investments and employment
Income that stays the same from week to week or month to mont…
Variable income
Income that varies from week to week or month to month
Variable expenses
Expenditures that change from week to week or month to month-…
19 terms
Financial literature chapter 2 key terms
Money management
Safe deposit box
Balance sheet
Assets
Day to day financial activities necessary to manage current p…
A private storage area at a financial institution with maximu…
A financial statement that reports what an individual or fami…
Cash and other property with a monetary value
Money management
Day to day financial activities necessary to manage current p…
Safe deposit box
A private storage area at a financial institution with maximu…
12 terms
Personal Financial Literature- Unit 7 vocab
Consumer Credit Reporting Act
Truth in Lending Act
Equal Credit Opportunity Act
Secured Credit
Free credit reports for the unemployed, persons on public ass…
Requires all lenders to inform potential lenders about the co…
Ensures all individuals have an equal opportunity to receive…
Credit with collateral for the lender
Consumer Credit Reporting Act
Free credit reports for the unemployed, persons on public ass…
Truth in Lending Act
Requires all lenders to inform potential lenders about the co…
14 terms
Financial Literature- Module 2, 5, and 6
Credit
Reasons why people borrow money instea…
Interest
Maturity Date
a tool to buy something now and pay for it later.
Convenience, instant gratification, protection, emergencies,…
the amount you pay to use someone else's money, usually a % o…
the final payment date of a loan.
Credit
a tool to buy something now and pay for it later.
Reasons why people borrow money instea…
Convenience, instant gratification, protection, emergencies,…
29 terms
Financial Literature 1.1 - 1.4
Choice
Disincentive
Incentive
Opportunity cost
Decision made or course of action taken when faced with a set…
A factor or disadvantage that discourages people from doing s…
Any reward or benefit that motivates people to do something.
The value of the second-best alternative that a person gives…
Choice
Decision made or course of action taken when faced with a set…
Disincentive
A factor or disadvantage that discourages people from doing s…
22 terms
Economics With Financial Literature Test 1
Economics
Macroeconomics
Microeconomics
Global Economy
the study of how we use scare & limited resources to satisfy…
the whole study of economic behavior as it relates to whole s…
the partial study of economics as it relates to particular ma…
a perspective in which it is believed that economic action ta…
Economics
the study of how we use scare & limited resources to satisfy…
Macroeconomics
the whole study of economic behavior as it relates to whole s…
Financial Business Literature Chapter 4 Section 1 Review
Factors that Influence Buying Decisions
Research Based Buying Approach
6 Smart Buying Strategies
Down Payment
Economic Factors, Social Factors, Personal Factors
1. Before you shop... 2. Weighing Alternatives... 3. Making the Pur…
1. Timing Purchases... 2. Store Selection... 3. Brand Comparison... 4.…
An initial payment made when something is bought on credit
Factors that Influence Buying Decisions
Economic Factors, Social Factors, Personal Factors
Research Based Buying Approach
1. Before you shop... 2. Weighing Alternatives... 3. Making the Pur…
10 terms
Ottawa Hills High School Financial literature chapter 8 savings and investing
Equity capital
Preferred stock
Diversification
Corporate bond
Money that a business gets from its owners in order to operate
Gives the owner the advantage of receiving cash dividends bef…
The processes of spreading your assets among several differen…
A corporation's written pledge to repay a specific amount of…
Equity capital
Money that a business gets from its owners in order to operate
Preferred stock
Gives the owner the advantage of receiving cash dividends bef…
79 terms
Financial Lit Final
Financial Decisions
Value
Needs
Wants
Determined by Values, Needs, and Wants
Fundamental belief or practice about what is desirable or wor…
Goods or services that are required for survival
Desire for goods and service that can increase our quality of…
Financial Decisions
Determined by Values, Needs, and Wants
Value
Fundamental belief or practice about what is desirable or wor…
8 terms
Financial Lit Ch. 6
Branding
Brand recognition/awareness
Buyer's remorse
Caveat emptor
The promotion of a product or service by identifying it with…
Refers to the public's ability to recall and recognize a bran…
regretting a purchase soon after making it.
A Latin term meaning "buyer beware"
Branding
The promotion of a product or service by identifying it with…
Brand recognition/awareness
Refers to the public's ability to recall and recognize a bran…
43 terms
Financial Literacy
credit
lender
interest
borrower
an amount of money that a lender or business allows a person…
a person or business that loans money
money paid by a borrower in exchange for using a lender's mon…
someone who is borrowing money with a plan to pay it back
credit
an amount of money that a lender or business allows a person…
lender
a person or business that loans money
19 terms
Financial Lit Credit Notes
Credit
Consumer credit
Creditor
Advantages of credit
Buy now, pay later.
Credit for personal use
The person who is loaning you money
Rewards, don't have to carry around cash, getting what you wa…
Credit
Buy now, pay later.
Consumer credit
Credit for personal use
56 terms
Financial Lit Chapter 5
Checking Account
Demand Deposit
Check
Canceled check
Deposit account on which checks are drawn
account holder can withdraw money on demand
written order from bank to pay person to whom check is written
has been processed and deducted from account
Checking Account
Deposit account on which checks are drawn
Demand Deposit
account holder can withdraw money on demand
116 terms
Financial lit
Capitalism
Competition
Free enterprise
Entrepreneur
an economic and political system in which a country's trade a…
is the rivalry among sellers trying to achieve such goals as…
an economic system in which private business operates in comp…
a person who starts his/her own business in hope of being suc…
Capitalism
an economic and political system in which a country's trade a…
Competition
is the rivalry among sellers trying to achieve such goals as…
28 terms
Financial Literacy
abilities
availability
benefits
borrower
a person's talents or skills
number of products ready for purchase
retirement, health insurance, sick pay, and vacation
a person who takes money with the promise of paying it back
abilities
a person's talents or skills
availability
number of products ready for purchase
15 terms
Financial Literacy
Check
Credit Card
Debit Card
Electronic Payment
a written document telling the financial institution to pay a…
a card that can be used to borrow money from financial instit…
a card that is linked to your checking account so that a pers…
payments using security features on the Internet
Check
a written document telling the financial institution to pay a…
Credit Card
a card that can be used to borrow money from financial instit…
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