Everfi Future Smart #6: Your
Financial Future
Premium - -The amount you pay your insurance company for
coverage. It is usually paid each month.
-Deductible - -The amount you personally are required to pay
before your insurance covers the cost.
-Copay - -A fixed fee you pay for specific medical service, like a
visit to the doctor's office.
-Security deposit - -Money you pay when you rent an apartment
to pay for any damage. If there is no damage when you leave, you
get your money back.
-Renters Insurance - -Insurance that will pay for all your stuff in
an apartment if something bad happens.
-401k or 403b - -A retirement account where you pay from your
paycheck before taxes and where your employer matches up to
3%.
-IRA - -An Individual Retirement Account. Your employer does
not match your funds.
-Risk - -How likely it is that you will lose money on an
investment
-Return - -How much money you can earn from an investment
-Diversification - -Your portfolio includes a mix of investments of
different risk levels
-Savings accounts - -Safe way to store money. Pays interest and
is insured by the FDIC or NCUA.
Financial Future
Premium - -The amount you pay your insurance company for
coverage. It is usually paid each month.
-Deductible - -The amount you personally are required to pay
before your insurance covers the cost.
-Copay - -A fixed fee you pay for specific medical service, like a
visit to the doctor's office.
-Security deposit - -Money you pay when you rent an apartment
to pay for any damage. If there is no damage when you leave, you
get your money back.
-Renters Insurance - -Insurance that will pay for all your stuff in
an apartment if something bad happens.
-401k or 403b - -A retirement account where you pay from your
paycheck before taxes and where your employer matches up to
3%.
-IRA - -An Individual Retirement Account. Your employer does
not match your funds.
-Risk - -How likely it is that you will lose money on an
investment
-Return - -How much money you can earn from an investment
-Diversification - -Your portfolio includes a mix of investments of
different risk levels
-Savings accounts - -Safe way to store money. Pays interest and
is insured by the FDIC or NCUA.
