H&R Block Voc 1-22 Word Scramble
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Question | Answer |
Adjustable Rate Mortgage (ARM): | Mortgage that has fluctuating principal and interest payments (similar to a variable interest rate loan). |
Auto Insurance: | A type of insurance used by vehicle owners to cover costs associated with car accidents. |
Budget: | A chart that documents how much money an individual earns and spends. |
Cash Flow: | The relationship between income and expenses in a budget. |
Certificate of Deposit: | A savings vehicle offered through banks with a set maturity date. |
City Income Tax: | Money collected by some city governments to be used for city public services, such as sidewalks and city water systems. |
Credit: | The ability to purchase goods or services with the promise to pay for it at a later time. |
Credit Score: | A number ranging from 300 to 850 representing a person’s credit history. |
Creditworthiness: | Demonstrating trust in repayment of borrowed money. |
Credit Card: | A plastic card that allows an individual to make a purchase on credit. |
Debit Card: | A plastic card that allows an individual to make a purchase using funds from his or her bank account(s). |
Deductions: | Money withheld from a paycheck for tax or savings purposes. |
Expenses: | Money spent on items and bills. |
Federal Income Tax: | Money collected by the federal government to be used for a variety of national public services, such as the military, national parks and monuments. |
Fixed: | Income and expenses that are the same each month. |
Fixed Interest Rate: | Interest payment that remains constant for the duration of the loan. |
Fixed Mortgage Rate: | A mortgage where the principal and interest payments remain constant throughout the entire duration of the loan. |
Flexible: | Income and expenses that vary each month. |
Gross Income: | Total pay before deductions. |
Health Insurance: | A type of insurance that minimizes financial risk related to medical expenses. |
Homeowners Insurance: | Protects a home by providing coverage in the event of damage or loss to the house itself or personal belongings inside due to theft, fire, accidents, etc. |
Income: | Money earned through employment. |
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