Across
- 2. this is the most common mortgage loan length in years
- 4. This insurance company collapsed in 2008 and needed to be bailed out to the tune of over $150 billion. Those bailout funds immediately went to firms like Goldman Sachs that this company owed money to (acronym)
- 7. Your family’s health history or health information about you may be used when buying this common insurance product
- 9. A lower credit score will lead to _______ monthly payments on loans like an auto or home loan
- 10. this is used to spend money from your checking account
- 11. A document that lists income and expenses
- 13. This is the highest investment grade rating given by the ratings agencies. Many financial firms had this rating right before going bankrupt and destroying the world economy
- 15. this is the highest amount of outstanding borrowing you can have on a credit card
- 16. this account offers higher rates of interest compared to savings or checking accounts, but your money is locked in for some duration of time (acronym only)
- 17. This is a common form of “free money” for college. Two common examples are Pell and Cal.
- 18. this is the safest type of home loan in terms of interst rates
- 20. A document that lists assets and liabilities
- 28. this institution offers savings and checking accounts and loans, and is not for profit and owned by its members
- 29. this payment is the amount that the credit card company will ask for at the end of the month; Pay this amount if you hate money and want to ruin your life
- 30. a longer loan (say 72 months on a car loan instead of 36) will lead to ________ monthly payments but more total interest owed on the loan
- 31. Some argue that this policy of getting government out of the way and letting Wall Street make their own decisions helped lead to the financial crisis of 2008
- 33. This ratio tells you how “cheap” or expense” a stock is while incorporating the growth of the company (acronym).
- 34. Using this less common mortgage loan length (in years) can save you lots of money in interest
- 36. this portion of an amortized fixed payment will decrease every month until the debt is paid off
- 37. The idea that you live very frugally, invest the surplus, and become financially free (acronym)
- 40. this government agency insures bank deposits
- 43. This type of student loan should be your last option, only once federal student loans are maxed out
- 44. The amount that you earn before any taxes or deductions
- 45. These financial products allowed Wall Street to bet on almost anything and increased risk in the system
- 46. this is a type of fee you may incur if you spend more money than there is in your account
- 49. these things in your budget fluctuate month to month, like your gas/electric bill
- 52. these occur when you sell a financial asset for more than you paid for it. It is a type of income and is taxable
- 54. this government agency insures credit union deposits
- 55. On these federal loans, you start accruing interest as soon as your school receives the money.
- 56. this irregular borrowing is short term and used to get you to your next paycheck
- 57. this is the total amount of insurance you have. Beyond this you will have to pay for the expense yourself
- 58. Debts that you have
- 59. this describes how “cheap” or “expensive” a stock is
- 61. These securities were bundles of crappy sub-prime loans that, when bundled together actually appeared to be good loans and were given high ratings by the ratings agencies. Firms like Goldman Sachs fraudulently dumped them on many investors like pension funds (acronym)
- 63. This refers to the money that a company brings in before costs.
- 65. this term describes how an investment or debt can grow over time in a non-linear fashion
Down
- 1. these things in your budget stay the same each month, like car insurance
- 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. This is a revolving type of loan like a credit card (acronym)
- 5. these are regular quarterly payments that companies may pay to their stockholders
- 6. The debt you take out when purchasing a home
- 8. In an amortized loan like a car loan or home mortgage this portion of your fixed payment starts out small, but grows over time and will be almost your entire payment by the end of the loan
- 12. this irregular borrowing is secured by your car
- 14. this is the amount you currently owe on your credit card
- 16. this account is designed for transactions like paying bills
- 19. This insurance will replace your clothes and furniture if a fire burns down your apartment
- 21. this acronym describes the interest that you will earn on accounts
- 22. this describes the length of a loan
- 23. the higher this is, the less you will need to borrow when buying a car or house
- 24. this is the amount you must pay when filing a claim before the insurance kicks in
- 25. this thing is calculated by Experian, Transunion, and Equifax
- 26. This is a common type of insurance you would need if you have a mortgage. Owning a pit bull may increase your rates.
- 27. turning a loan into fixed monthly payments
- 32. the original amount borrowed, before any interest is included. It can also refer to the actual amount saved, before compound interest grows the investment
- 33. If you buy a home and put less than 20% down you are required to also purchase this (acronym)
- 35. These types of student loans have the interest paid by the government while you are in school
- 38. this acronym describes the amount of profit that a company makes in a given quarter or year
- 39. this is essential to all types of insurance. It describes spreading out bad outcomes over a large population
- 41. this term is the most commonly used measure of a company’s size (shortened version of term)
- 42. Your pay after all taxes and deductions are removed from your paycheck
- 47. Historically, you were required to put this much as a down payment if you wanted to buy a home
- 48. this describes the period of time where you do not owe interest on credit card purchases
- 50. this institution offers savings and checking accounts and loans, and is for profit and privately owned
- 51. 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
- 53. this is the amount you must pay each month to purchase an insurance product
- 60. this describes something of value you may need to pledge to secure a loan
- 62. Things of value that you own
- 64. this acronym describes the interest that you will pay on debts