jgavers@esu7.org , Jody Gavers

1. PERSONAL FINANCE L TO J jgavers@esu7.org, Jody Gavers

2. 1 Place your emergency fund in this type of account. Money Market End

3. 2 Baby Step one is ________. $500-$1000 End

4. 3 The typical American has a ________ savings rate. Negative End

5. 4 Saving must become a ________. Priority End

6. 5 A fully funded emergency fund is ________ months of expenses. 3-6 End

7. 6 ________ says that whatever can go wrong will go wrong. Murphy'sLaw End

8. 7 The percentage by which your money grows is called the ________. Rate of Return End

9. 8 Use the ________ approach instead of borrowing to purchase things. Sinking Fund End

10. 9 Never invest using _________ money. Borrowed End

11. 10 Oil and gold are examples of _________. Commodities End

12. 11 When investing, you should always check the _________ track record. 5-10 year End

13. 12 _________ is for anything less than five years. Saving End

14. 13 The availability of your money is called _________. Liquidity End

15. 14 _________ are savings accounts with insurance companies. Annuities End

16. 15 In _________, investors pool their money. MutualFunds End

17. 16 A ________ is a debt instrument where a company owes you money Bond End

18. 17 A retirement plan for self-employed people. SEPP End

19. 18 Typical retirement plan found in most companies 401(k) End

20. 19 Retirement plan found in non-profit groups (schools, hospitals) 403(b) End

21. 20 Save for college by first using this type of account Educational Savings Account End

22. 21 Invest 15% of income for retirement is baby step _______ 4 End

23. 22 College Funding is baby step 5 End

24. 23 A widely held, but mistaken belief Myth End

25. 24 Mortgage loans where the interest rate is adjusted periodically ARM End

26. 25 A tax on the poor and people who can’t do math Lottery End

27. 26 The debt snowball is baby step ______ 2 End

28. 27 Most expensive way to finance a new car Leasing End

29. 28 Using equity in a home as collateral when borrowing money HomeEquityLoan End

30. 29 Combining separate debt payments into one single payment Consolidation End

31. 30 A drop in the value of property Depreciation End

32. 31 The true cost of something in terms of what you give up OpportunityCost End

33. 32 Borrowing money and paying over time Financing End

34. 33 Finding the right place in the store for a product Shelf Positioning End

35. 34 Financing as a marketing tool 90 Days Same-as-Cash End

36. 35 Causes some pain when purchased with cash Significant Purchase End

37. 36 Doubting a purchase Buyer's Remorse End

38. 37 Insures you against an unclean title Title Insurance End

39. 38 Experian, TransUnion, Equifax are examples of ________ CreditBureaus End

40. 39 The percent of total debt each creditor gets when you can’t make minimum payments ProRata End

41. 40 Court action that allows a lender to take wages directly from a paycheck Garnishment End

42. 41 If you file ________ code, it will stay on your credit report for 10 years Chapter7Bankruptcy End

43. 42 Protects the mortgage lender against loss if the loan is defaulted PMI End

44. 43 The only information that can be legally removed from your credit bureau report InaccurateInformation End

45. 44 Place a fraud victim alert on your credit report after this happens IdentityTheft End

46. 45 Amount of time a credit bureau has to remove inaccuracies from your report 30days End

47. 46 Legal procedure for dealing with debt problems (filed under chapters) Bankruptcy End

48. 47 Cash flow plan Budget End

49. 48 A sign of crisis living BouncedChecks End

50. 49 Spend every dollar on paper before the month begins Zero-BasedBudget End