PF 2,3,&8 Word Scramble
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Question | Answer |
What effect does inflation have on the value of money? | Inflation decreases the value of money |
What does the Rule of 72 calculate? | How long it would take for an invest to double in price |
A savings account that compounds interest _______ is the most lucrative savings account. | Daily |
What is one disadvantage of CD's? | Money is not easily accessible |
If Sam loans his sister $500 at 3% interest. How much will Sam's sister owe after 3 years? | $545.00 |
What is compound interest? | Interest paid on interest earned |
What is the 1st Foundation of financial well-being according to Dave Ramsey? | Save for a $500 emergency fund |
According to Dave, major expenses should be paid out of a... | Sinking Fund |
This principle suggests that certain amount of money today has a different buying power in the future. | Time Value of Money |
Why should an emergency fund be kept in a separate savings account away from spending money? | So your emergency fund is not easily spent |
What is the preferred investment of Dave Ramsey? | Mutual Funds |
The more liquid an investment, the ______ return can be expected | Less |
What are dividends? | Profits of a company paid out to stockholders |
Savings accounts and money market accounts are most appropriate for... | Emergency funds and short-term goals |
What is the benefit of diversification? | Reduced risk |
To ensure that some of retirements savings will not be subject to taxes upon withdrawal, you would contribute to... | Roth IRA |
What is a 401(k)? | Employer-sponsored retirement plan |
What is the retirement plan used by non-profit organizations? | 403(b) |
What is an example of a fixed expense? | Rent |
What is an example of a variable expense? | Groceries |
What is an example of a discretionary expense? | Eating out at a restaurant |
What is a Zero-Based Budget? | A money plan where every dollar earned has a specific purpose |
What is not excused under bankruptcy? | Student Loan Debt |
What financial aid can you NOT apply for using FAFSA? | Scholarships |
What is a grace period? | The period after school before you must start paying back student loans (usually about 6 months) |
What is current student debt unpaid? | Over $1 Trillion |
Created by:
daniel.owen
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