Investing/Credit Cards/Taxes

Investing/Credit Cards/Taxes

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Investing

• Stocks - is an investment that represents a company

• Shares - a piece of the stock (company)

• Mutual Funds - Professionally managed investment that uses money from investors to invest in stocks/bonds.

• Diversification - spreading out your investments so that you can be financially stable.

Open Ended

What is a Mutual Fund?

Multiple Choice

Which would be considered the highest risk investment type?

• Money Market Account

• Stock

• Mutual Fund

• Bond

Multiple Select

Diversification is when you spread your investments around to increase financial security

• True

• False

Credit Cards

• Principal - The total amount of money that is owed.

• Interest Rate - A percentage of money that is paid for borrowing someone else's money. Also known as the APR.

• Debt - Owing someone money. Something that is owed or must be paid back.

• Minimum Payment - The lowest or smallest possible amount. Paying the least amount of money.

• Credit - Being trusted to borrow money to buy something and pay it back later.

Open Ended

What is your job as a borrower?

Multiple Choice

Benefits of credit cards include:

• safe and convenient, bonuses are offered

• allows you to build a positive credit report

• needed for reservations and online shopping

• all of these

Multiple Choice

What does APR mean?

• Average Person Ratio

• Annual Percentage Rate

• Always Poke Robots

• Apples Peas & Rice

Taxes

• 1040EZ - No Dependents/salary less than 100k

• 1040A - Dependents/salary is less than 100k

• 1040 - Dependents/salary is greater than 100k

• Child Tax Credit - $ per child

• Earned Income Tax Credit - $ for low income earners

• Itemized Deductions - reduces tax bill

• Dependents - people you can claim on taxes

Multiple Choice

Which tax form must you use if you make more than $100,000 per year?

• 1040EZ

• 1040

• 1040A

Multiple Choice

Our tax money is spent on all of the following EXCEPT:

• Social Security

• The Military

• Private School Education

• National Parks

Multiple Select

The Earned Income Tax Credit provides money/refund for low income earners.

• True

• False