ClassTools (2024)

QuestionAnswerUse this to pay for unforeseen health expenses or unexpected car repairsemergency fundThis allows you to use a car for a specified period of time for a specified monthly paymentleaseWhen you are looking for a used car, this resource will help you best determine the value of a particular make and modelKelley Blue BookWhy do banks and credit card companies offer points or rewardsyou feel you are getting something for nothingSubtracting your outstanding checks and adding your outstanding deposits to the bank balance is the act ofbalancing your checkbookThis lowers the risk of investing but does not eliminate itdiversificationA stock that holds it’s valuedefensive stockWhat you should consider when choosing a place to liveproximity to work cost transportationWhen you borrowed $50 from your rich cousin, and then had to pay her back $60, what is the original $50 called?principleA high credit score gives you one main benefit.low interest rateIf a person in your house was bitten by your dog, which type of insurance would you be covered under?homeownersA number measured by the government that describes the changing prices of everyday goods.inflationThis is paid to the mutual fund company when you first purchase a mutual fund.front end loadThis is paid to the mutual fund company when you sell a mutual fund.back end loadThis is the official retirement age, according to the US government67You can withdraw funds from a 401k after this age591/2When should you start saving for your retirementas soon as you workThe national government of the U.S. that takes in taxes and funds such programs as maintaining interstate highways and the military is officially named thisFederal GovernmentThis Is provided to you by your employer, and it lists total income and all tax withheld amountsW2This form lists interest income from investments1099Making sure you get enough sleep, exercise every day, not just on weekend, and eating good food is a way of managing yourwell beingThis handy tool can pay your bills month after month, once set up, without you doing a thingonline bill pay/bankingThese loans, used for advanced education degrees (college) don’t have to be paid back until after you’ve completed the coursesstudent loansAn associate degree takes this many years to complete2A legal document that contains all the details of the agreement between the landlord and renter and is signed by both parties is aleaseThe form filled out by an employee when they begin a job stating the number of withholding allowances claimedW4 formPreparing one of these will help you meet a financial goalbudgetSavings account at banks are protected by this type of insuranceFDICWhen you should begin saving for retirementwhen you enter the workforcethe amount of money you pay when you file an insurance claimdeductible