final buisness

Ira

a tax sheltered retirement plan in which ppl can annually invest earnings up to a certain amount

express money order

a form issued by various organizations including travelers check companies, travel agencies, and many supermarkets, pharmacies, and convienent stores

deficit

when actual spending is greater then planned spendiing

debtor

anyone who buys on credit or receives a loan

credit limit

a maximum amount that may be owned at one time

certified check

a personal check for which a bank has gauranteed payment

banking conviencience

online banking, atm

automatic bill payment

requires a bank customer to authorize preset amount of monthly expenses. the bank deducts the payment from ur account and transfers them for the appropriate companies

allowance

the amount of money u plan to use for a certain budget category

360 days

the computation of intrest easier

variable expense

living costs that differ each time and may not be as easy to estimate

take home pay

the amount of a paycheck after taxes and other payroll deductions

y/n successful budgets are flexible

yes

safe deposit box

a container for storage of valuables offered by banks

restrictive endorsement

an endorsement that limits the use of the check to the purpose given in the endorseent

promissory note

a written promise to repay based on a debtors excellent credit history

personal assets

items of value

payee

the person to whom the check is written

net worth

the difference between a persons assests and liabilities

mutual savings baks

a savings bank that is owned by, and operated for the benefit of its depositors

money management

the day to day financial activities associated with using limited income to satisfy unlimited needs and wants

3 things on ur personal financial filing system

contracts, pay stubs and w2 forms, copy of ur will

cash flow

money coming in and going out

cash cashing outlet

not a deposit instution

check clearing

paying of checks among different banks in different cities

consumer finance company

a non deposit financial institution that specializes in making loans for long lasting financial goods

deposit slip

when u put many in checking acc u will fill this up

FDIC

federal deposit insurance company, 100 thousand dollars

simple intrest formula

PxRxT

list 3 items found under the household category of a budget

rent, utilities, furniture

interest earning checking account

earns intrest only if account stays over required account

know the correct order of the budgeting process

set financial goals, plan budget categories, mainatian financial records, evaluate budget

list some examples of a bank card

mastercard and visa

list the proper check writing procedures

aviod making payable to cash

loan payments

liabiites decrease

net cash flow

income-expenses

online banking allows you to print new checks online

no

personal records

birth certificate and social security card

regualr checking account

writing a lot of checks a month (as many as you want)

regular charge account

requires buyer to make full payment within a stated period

short term financial goal

something cheepter (a CD)

survivors insurance

provids death benifits to dependents of workers who die

trade credit

when a company gets goods from a suplier and pays later

what should you plan for in your budget

fianncial emergencys

what is thee main disadvantage of a credit card

overbuying

what first 2 things to do as part of the financial planning process

balance sheet and cash flow statement

what percent of banks are FDIC members

99 prcnt

10

what percentage of income should you set aside for saing/investing each month

what percent of an insured normal income goes to monthly disability insurance payments

40 to 60 percent

what is the most important feature of universal life insurance

th investment portion earns a variable rate of return

what is the most important factor that influences homeownrws insurance prmeiums

estimated danger of loss based on insurances past experiences

truth in lending law of 1968

regulation that required you to be told the cost of credit

term life insurance

not perminate no cash value borrowing

t bill

debt scuiity involces short term with maturity 99 days to a year

supplemtaty medical insurance

medical insurance portion of Medicare

stock index

the dow jjones insdustral average

stock exchange

buisness organization the buying and selling of securities

spot price

current price quoted for precious metals

series ee savings bond

bought at half face value

sales credit agreements

requited discose of apr

safety

the girl is worried about loosing money

replactmet policy

the special form of homeowners insurance

replacement insurance

insurance in which the insurance company replaces that bad been destroyed, no depreciation is deducted

real estate

land and anything that is attached to it

price earnings ratio

the relationship between stocks selling price and earnings per share

preffered provider organizatin

a managed care plans that involves several health care providers such as a group of physicians, a clinic, or a hospital

municiiapl bonds

bunds issued by local and state governments

morgage payments

home loans and long term loans

money market accounts

an account that pays a variable interest rate based on varity gov and corporate securities

maturity value and interest rate

longer the maturity the high the interest rate

major medical insurance

protection against the high costs of serious illness injurie, complements other forms of medical insurance

loan credit agreements

require disclosure of apr

us savings bond, musicpal bond, growth stock , commodities

put in order from low to high risk:growth stock, municiiapl bond, commodities, us savings bond

character, capacity, captial , colateral

3 cs of credit