Personal Finance Final

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Across
  1. 1. this account offers higher rates of interest compared to savings or checking accounts, but your money is locked in for some duration of time
  2. 3. I might take out one of these if my house is worth more than I owe on it and I want to borrow some money
  3. 6. this account is designed for transactions like paying bills
  4. 9. this describes the length of a loan
  5. 14. these things in your budget stay the same each month, like car insurance
  6. 15. this acronym describes the interest that you will pay on debts
  7. 17. this is a type of fee you may incur if you spend more money than there is in your account
  8. 18. this is the amount you currently owe on your credit card
  9. 22. this describes something of value you may need to pledge to secure a loan
  10. 23. Something of value that you own
  11. 24. this is used to spend money from your checking account
  12. 27. this is the amount that the credit card company will ask that you pay
  13. 29. this term is the most commonly used measure of a company’s size
  14. 33. this describes how “cheap” or “expensive” a stock is
  15. 35. the original amount borrowed, before any interest is included. It can also refer to the actual amount saved, before compound interest grows the investment
  16. 36. this government agency insures credit union deposits
  17. 38. this institution offers savings and checking accounts and loans, and is not for profit and owned by its members
  18. 39. this is essential to all types of insurance. It describes spreading out bad outcomes over a large population
  19. 40. the higher this is, the less you will need to borrow when buying a car or house
  20. 41. this occurs when you sell a financial asset for more than you paid for it. It is a type of income and is taxable
  21. 43. this government agency insures bank deposits
  22. 45. these are regular quarterly payments that companies may pay to their stockholders
  23. 47. this irregular borrowing is short term and used when to get you to your next paycheck
Down
  1. 2. turning a loan into fixed monthly payments
  2. 4. these were made to people with bad credit and wanted to buy a house during the last housing bubble. Some say they were a major cause of the financial crisis
  3. 5. in some health plans you may have to pay some fixed percentage of a covered procedure. This term describes those payments
  4. 7. this is the safest type of home loan
  5. 8. this is the total amount of insurance you have. Beyond this you will have to pay for the expense yourself
  6. 10. The debt you take out when purchasing a home
  7. 11. A document that lists assets and liabilities
  8. 12. this describes the period of time where you do not owe interest on credit card purchases
  9. 13. The amount that you earn before any taxes or deductions
  10. 16. A debt that you have
  11. 19. this thing is calculated by Experian, Transunion, and Equifax
  12. 20. Your pay after all taxes and deductions are removed from your paycheck
  13. 21. A document that lists income and expenses
  14. 25. this acronym describes the interest that you will earn on accounts
  15. 26. this term describes how an investment or debt can grow over time in a non-liner fashion
  16. 28. this acronym describes the amount of profit that a company makes in a given quarter or year
  17. 30. a longer loan (say 72 months on a car loan instead of 36) will lead to ________ monthly payments
  18. 31. this irregular borrowing is secured by your car
  19. 32. this is the amount you must pay each month to purchase an insurance product
  20. 34. Expense, these things in your budget fluctuate month to month, like your gas/electric bill
  21. 37. this is the amount you must pay when filing a claim before the insurance kicks in
  22. 42. this portion of an amortized fixed payment will decrease every month until the debt is paid off
  23. 44. this is the highest amount of outstanding borrowing you can have on a credit card
  24. 46. this institution offers savings and checking accounts and loans, and is for profit and privately owned