Name______________________ Goals What do the letters in SMART stand for? S—
Name______________________ Goals What do the letters in SMART stand for? S— M— A— R— T— Write one short-term goal, one intermediate goal, and one long-term goal for yourself using the SMART Criteria. Short-term— Intermediate— Long-term— Keith’s Budget Assignment Directions: Complete the monthly budget for Keith using the information below. Make sure to calculate net income for your budget. Also, calculate how much his car and school loans are going to be. Lastly, calculate his yearly budget after you are done with the monthly budget. Gross Income (month) – $8,850 School Loans – Keith attended Villanova University for 4 years Car Loan -- Keith purchased a 2010 Toyota Rav4 with a trim of 4dr (2.5L 4cyl 4A). He put $3,500 down on it. Rent -- $1,150 Utilities -- $270 Iphone -- $53 Groceries -- $355 Gasoline -- $220 Insurance -- $300 Food -- $170 Entertainment -- $87 Misc. -- $45 Car Repairs -- $80 Shopping -- $90 Budget Monthly Yearly Gross Income Less: Total Deductions Total Income ______ ______ ______ ______ ______ ______ Fixed Expenses ___________________ ___________________ ___________________ ___________________ ___________________ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______ Total Fixed Expenses _______ _______ Variable Expenses _______________________ _______________________ _______________________ _______________________ _______________________ _______________________ _______________________ _______________________ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______ ________ ________ ________ Total Variable Expenses _______ ________ Total Expenses _______ ________ Cash Surplus _______ ________ _______ ________ Income _________________________ Matching Directions: Match the letter of the description with the corresponding investment that goes along with it. Take your time! ____Savings Account a. Your money goes into a bank and can be withdrawn at any point ____Commodities b. Backed by US Government Full Faith and Credit ____ US savings bond c. Can be anywhere from 3 months to 6 years ____ Corporate bond d. A market for short-term debt instrument (several months to a year) ____ Money Market e. Bonds issued by an American city, local government, or local agency ____ Municipal Bonds ____ Mutual Fund f. Bonds issued by a publically owned company g. 3 kinds: open-end, unit investment, close-end ____ Certificate of Deposit (CD) h. Normal shares that are purchased for corporations i. Things that can gain value over time such as baseball cards j. Investment where you work closely with banks and has not been as productive recently k. Stocks that are senior to the normal shares l. Shares that sell for under $1.00 M. Basic resources such as agricultural products (iron, ore, crude oil, coal, salt, sugar) ____ Common Stock ____ Preferred Stock ____ Real Estate ____ Collectibles ____ Penny Stocks Insurance Directions: Put the letter of the definition next to the term that correlates with it. Take your time. 1. _____ Peril 2. _____Claimant 3. _____Health Insurance 4. _____ Car Insurance 5. _____Exclusive 6. _____Deductible 7. _____ Underwriting 8. _____ Actual Cash Value 9. _____ Life Insurance 10. _____ Long-term disability insurance a. Things that are not covered under the policy b. It is the value of an item at the time it was damaged by the insured event. c. It is the amount you are required to pay before the insurance company begins to pay. d. It is the cause of the possible loss or damage e. The type of insurance that can cost you the most money to have, but save you the most money in the long run f. A person who makes a claim against a party based on legal liability g. The process of selecting risks for insurance and determining in what amounts and one on what terms the insurance company will accept. h. The type of insurance required by law in this state i. The type of insurance that helps with expenses if a family member is not around anymore j. The type of insurance that helps cover the paychecks that you would be missing if you can’t work Directions: Fill in the blank with the term that best completes the sentence 18. The amount of traffic accidents that occur in the United States each year is over ______ million. 19. The percentage of at risk homes that have flood insurance is ______% 20. The most under-purchased type of insurance is _______-_______ _____________ insurance. 21. Lying to an insurance company in order to receive money is called insurance __________. 22. The type of insurance that is required in the state of New Jersey is _____ insurance. 23. Approximately _____ million Americans are currently without health insurance. (answer needs to be within 5 million to be correct) 24. Home insurance should only be purchased if you ____ the house.