Personal Finance

Front

The cost of borrowed money, usually expressed as a percentage.

Back

interest

Front

401(k), IRA, and Roth IRA are all examples of a __________ account.

Back

Retirement

Front

This type of retirement account offered by employers to their employees allows them to set aside tax-deferred income. Sometimes employers will even match the employee contribution up to a certain amount.

Back

401(k)

Front

Principal

Back

The original amount of a loan OR the original amount of money invested.

Front

The first step of financial freedom; $500 for teens; $1,000 for adults

Back

emergency fund

Front

The availability of money; how quickly you can convert it into cash in your hand is its _______.

Back

liquidity

Front

Term that applies to the ability to buy something now and pay for it later over a period of time (usually with having to pay a finance charge and/or the addition of interest).

Back

Credit

Front

What is a credit score?

Back

A three-digit numerical rating that reflects how likely you are to repay your debt.

Front

Student loans can be subsidized (by the government) or unsubsidized, and cannot be discharged with bankruptcy.

Back

true

Front

Which budget item will most likely take up the largest percentage of your income at 25-30%?

Back

housing