Financial Literacy Flashcard | What do You Already Know?

Front

The amount left over from your paycheck after taxes and deductions are taken out is called what?

Back

net pay

Front

A plan for how you will spend and save your money is called what?

Back

budget

Front

Which type of expenses are rent and a car payment?

Back

Fixed expense

Front

A type of investment that signifies that you own a part of a corporation and a claim to their assets and earnings.

Back

Stock

Front

Most millionaires inherited their money.

Back

False

Front

Most millionaires are college graduates.

Back

True

Front

You can be covered by your parents' Health Insurance plan until you are age 26.

Back

True

Front

Equipment, inventory or other goods that are pledged to the lender in the case the borrower can not make a loan payment

Back

collateral

Front

When would it be a good idea to invest your money instead of putting it in a savings account?

Back

When you won’t need the money for a long time.

Front

A the collection of investments is called what?

Back

portfolio