Personal Finance Review 1

3. Stock market index representing 500 of the largest companies US stock exchanges
5. Type of car insurance that covers you if you cause injuries
7. A record of how you've managed loans and payments over time
9. Federal insurance program protecting the money you deposit in member banks up to $250,000 per depositor, per bank
11. Strategy involving spreading investments across different assets to reduce risk
12. Type of investment that combines money from multiple investors to create a diversified basket of stocks and/or bonds
14. The amount borrowed by someone for a loan
16. If you want a lower deductible you will pay a higher monthly _______.
17. Monthly fee that some banks charge to keep your account open
18. The 50/30/20 rule divides your budget to spend 50% on _______

1. An initial payment made when buying something expensive, such as a car or house
2. Your total earnings BEFORE taxes or deductions are taken out
4. Insurance strategy to afford large payouts by collecting premiums from a large group
6. This type of card is connected to your checking account
8. If your expenses are higher than your income, you have a budget ________.
10. The lowest amount you can pay on your monthly credit card bill to remain in good standing
13. Investment that automatically adjusts your investments based on a planned retirement year
15. Strategy for debt repayment starts with the lowest balance debt