Needs vs. Wants
This is considered a basic need instead of a want.
What are groceries
The main purpose of a budget is to do this with money
What is manage income and expenses?
Credit unions are owned by these people
Who are the members ?
Missing one of these can negatively affect your credit score.
What is a payment
Buying stock means buying this in a company
What is part ownership
This expense is usually considered a want
What is eating out at restaurants
If income decreases, this category should usually be adjusted first.
What is entertainment?
A check register helps you keep track of these two things
What are spending and balances?
Credit utilization refers to this percentage.
What is the percentage of available credit being used.
Investing is risky because this can happen to value
What is it can go up or down
Name one example of a "want"
Examples: movie tickets, gaming subscriptions, brand-name sneakers.
Tracking expenses regularly is an example of this.
What is financial responsibility
Writing the correct check amount on a check helps prevent this
What are fraud or payment errors?
Making only minimum payments causes this to build up
What is interest
This savings option generally has the best long term growth potential
What is investing in stocks
When money is tight, this type of expense should usually be cut first?
What is entertainment?
A long-term savings goal most adults plan for
What is retirement?
This type of account is mainly used for everyday spending
What is a checking account?
Paying balances on time usually helps improve this.
What is a credit score
The main purpose of a cover letter is to do this
What is show personality and explain interest in a job
This should influence financial decisions more than peer pressure and social media.
What are personal needs and goals?
This type of fund helps cover unexpected emergencies.
What is an emergency fund?
Banks and credit unions both offer these services for customers
Checking accounts, savings accounts, loans, debit cards.
Keeping a low balance on credit cards is considered this type of credit behavior.
What is responsible credit use
Making eye contact during an interview is considered this type of behavior
What is appropriate/professional interview behavior