Consumer Family Science Study Guide

Exam 3 Study Guide Chapter 13 1. What is redemptive? 2. What savings quantity do financial experts recommend for indispensableness purposes? 3-6 months 3. Historically, Americans engender besides rescued what percentage of their incomes? 4. Name trey reasons wherefore state arent saving. 5. Name four reasons why people should save. Expenses, emergencies, future day purchases, disbursement. 6. What are the four step to developing a devolveing plan. Track spending for 1 mo evaluate and wind and slay adjustments. 7. What is pay yourself jump? 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 check to be there when you channel a withdrawal. 10. What was the significance of the 1980 sediment Institutions Deregulation and Monetary gibe Act? It allowed other instisutinos besids bullionmaking(pren ominal) banks to offer loans . 11. What is the fractional give up system? Banks must(prenominal) 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 challenger in the credit market keeing rate low asn developing of online spending institutions making rate go up.

14. Name devil benefits of using banks. Security and come back on savings 15. Why dont savings accounts have higher(prenominal) place of interest? Bec a give the bank cant use te silver for long! term investiments to make money 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 mischief of a money market account? Minimum balance, interest rate tiered based on you balance limited number of dubiousness and is tied to stock market so rates locomote frequently 18. What is a C.D? cant be cash 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, rear it on our website: OrderCustomPaper.com

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