Save
Busy. Please wait.
Log in with Clever
or

show password
Forgot Password?

Don't have an account?  Sign up 
Sign up using Clever
or

Username is available taken
show password

Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.


Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.

Term

Step 1
click to flip
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't know

Term

Step 2
Remaining cards (18)
Know
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

baby steps/Chap 1

TermDefinition
Step 1 $1,000.00 in an “Emergency Fund” ($500.00 if income under 20k per year)
Step 2 Pay-off all debt utilizing the “Debt Snowball” – except the house
Step 3 3-6 months expenses in savings
Step 4 Invest 15% of household income into Roth IRA’s and pre-tax retirement
Step 5 College Funding
Step 6 Pay-off home early
Step 7 Build Wealth! (Mutual Funs/ Real Estate)
amoral neither good nor bad
baby steps steps to a healthy financial plan
compound interest interest paid on interest earned. [interest credited daily, monthly, quarterly, semi-annually, or annually on both principal and previously credited interest]
discipline the key to wealth building you must be consistent over time
emergency fund three to six months of expenses in readily available cash
interest rate percentage paid to a lender for the use of borrowed money
money market mutual fund that seeks to maintain a stable share price and to earn current income by investing in interest-bearing instruments with short-term (usually 90 days or less) maturities. emergency fund goes here
Murphy’s Law if it can go wrong, it will; unexpected events
Pre-authorized checking (PACs) system of automatic payment processing by which bills, deposits, and payments are handled electronically at regular intervals or on predetermined schedule. Checking that is authorized by a payer in advance written either by the payee or by the payee’s ba
Priority level of high importance or great urgency
Savings account accounts at financial institutions that allow regular deposits and withdrawals. The minimum required deposit, fees charged, ad interest rate paid varies among providers
sinking fund saving money to allow interest to work for you rather than against you
Created by: OcelotKnight
Popular Economics sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards