Consumer Family Science Study Guide

Exam 3 Study Guide Chapter 13 1. What is parsimoniousness? 2. What nest egg quantity do financial experts recommend for tweak purposes? 3-6 months 3. Historically, Americans engender besides rescued what percentage of their incomes? 4. Name deuce-ace reasons wherefore state arent saving. 5. Name four reasons why people should save. Expenses, emergencies, future day purchases, disbursement. 6. What are the four stairs to developing a pass bying plan. Track spending for 1 mo evaluate and wind and slay adjustments. 7. What is pay yourself commencement exercise? put your notes out-of-door before you pay anything else. 8. What is the 70-20-10 rule?spend 70 save 20 invest 10 9. What is a depository institution? currency will be verify to be there when you channel a withdrawal. 10. What was the significance of the 1980 deposit Institutions Deregulation and Monetary gibe Act? It allowed other instisutinos besids technical banks to offer loans . 11. What is the fractional give up system? Banks moldiness keep a fracioj of depostis 12. What are banks deuce main sources of income? Intersts and fees from loans and services. 13. why have fees become an increasingly principal(prenominal) source of income for banks? Becaseu of strong controversy in the credit market keeing rate low asn development of online spending institutions making rate go up.

14. Name two benefits of using banks. Security and come back on savings 15. Why dont savings accounts have high ordinate of interest? Beca using up the b ank cant use te property for long term inve! stiments to make cash so they can t pay out 16. What is a money market account? Savings checking with interest rates tied to the stock market. 17. What is three hurt of a money market account? Minimum balance, interest rate tiered based on you balance limited number of campaign and is tied to stock market so rates lead off frequently 18. What is a C.D? cant be cash in in for a specific time. Pays interest 19. What is one disadvantage of a C.D? have...If you motive to get a full essay, order it on our website: OrderCustomPaper.com

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