Personal Finance Review

A plan for saving and spending in order to know where all your monthly income is going. 

• Savings Account
• Budget
• CD
• NONE

Something of value used to secure a loan. 

• Finance charge
• Unsecured loan
• Collateral
• Interest

The availability of money; how quickly you can convert it into cash in your hand is its _______. This is something people think about before they start investing their money. 

• diversity
• liquidity
• yield
• gratuity

A ____ is an IOU for specified amount of time (can be from the government or companies to finance projects), during which the issuer makes regular interest payments and the investor receives regular interest payments.

• budget
• bond
• copay
• stock

This term refers to the original amount of a loan OR the original amount of money invested. 

• Principal
• Interest
• Rebate
• Fixed Rate

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.

• mutual fund
• 401(k)/ 403 (b)
• Checking Account
• savings

Because mutual funds spread your investment around in multiple stocks, bonds, and all assets they are a great example of this term

• diversification
• overdraft
• debt
• beneficiary

Why do you have to file for taxes every Spring. 

• You don't
• To figure out if you have to pay more for taxes or if you paid to much
• To show proof that you had a job
• To show changes to your address/life to the government 

The more allowances (numbers) you claim on your W4 the 

• More that will be withheld from each paycheck
• Less that will be withheld from each paycheck

What form do you need to complete your taxes?

• W4
• W2
• Savings and Checking Account Statements