Personal Finance Review

Front

The money you have left after you've paid your income tax is called....

Back

disposable income

Front

What is the opportunity cost of getting a mortgage compared to renting a home?

Back

interest payments

Front

About how much of your income should you use for housing?

Back

No more than 30%

Front

What is NOT a benefit of saving your money at a bank?

Back

You're more likely to spend it.

Front

What does the bank do with peoples' deposits?

Back

They loan it out.

Front

Which of the following does not factor into determining a person's credit score?

Back

social media presence

Front

What are the two ways someone earns money from investing in stock?

Back

dividends and capital gains

Front

You are lending money to a company or the government when you invest in....

Back

bonds

Front

What is an interest rate?

Back

The amount in terms of a rate or percentage that you have to pay back on an amount borrowed

Front

What is bankruptcy?

Back

A legal proceeding involving a person or business that is unable to repay outstanding debts