Finance Review FCS | Baamboozle - Baamboozle | The Most Fun Classroom Games!

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Personal Finance

Study Slideshow

What is the difference between saving and investing

Investing is when you spend money in hopes it makes a return, saving is storing money for later use

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What does "liquidity" mean?

How easily an asset can be turned into cash

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What is inflation?

The rise of the cost of goods and services over time

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What is the relationship between risk and return?

Higher risk = Higher return

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What is a diversified portfolio?

When a portfolio of assets has many different types of investments

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What two types of retirement accounts are tax advanged?

Traditional IRA and 401(K)

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Why should you invest for retirement sooner than later?

Your money will have more time to grow and more will be available when you retire

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What is a stock?

A small part ownership of a company

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What is a bond?

A government or company loan that you provide to a company for a return on a specified date

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What is an index fund?

A large collection of similar stocks and bonds grouped together

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What two types of investments are considered "high risk"?

Real estate and speculative investments

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How much money do you need to make a year to be required to file taxes?

$12,400

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How much unearned income is required to file taxes?

$1,100

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What are FICA taxes?

Social Security and Medicare

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What is the difference between gross pay and net pay?

Gross pay is the amount earned before taxes and net pay is the amount earned after taxes

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When is tax day?

April 15th

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