PAYCHECK PANIC
Bria earns $900 before taxes and deductions.
Gross Pay
Presley uses this account for gas, food, subscriptions, and everyday purchases.
What is a checking account?
This major credit-score factor tracks whether Carson pays his bills on time or late.
What is payment history?
Shelby puts $5,000 upfront toward her dream car.
What is a down payment?
Ari divides income into needs, wants, and savings using percentages.
What is the 50/30/20 rule?
Jack receives $1,050 after taxes and deductions.
What is net pay?
Keely keeps her vacation money here so it stays separate from everyday spending.
What is a savings account?
Chris owes $400 on a card with a $2,000 limit. (Calculate) You need the term name too.
What is 20% utilization?
Chase pays more than the sticker price because he financed the car.
Oliver gives every dollar of income a specific job.
What is zero-based budgeting?
Gisselle automatically saves part of every paycheck before spending anything.
What is Pay Yourself First?
Emma wants higher savings interest but still needs access to her emergency money.
What is a high-yield savings account?
Jaiden formally applies for three new credit cards in one weekend. The term for the type of "look" into his credit history.
What is a hard inquiry?
Damaris borrows $20,000 for a car and has five years to repay it.
What is a loan term?
Elton stops spending once his entertainment category reaches zero.
What is envelope budgeting?
Damaris pays roughly the same car insurance amount every month.
What is a fixed expense?
Leah checks her banking app and notices a $5 charge just for having the account that month.
What is a monthly maintenance fee?
Mason uses $4,000 of a $5,000 credit limit.
What is 80% utilization?
Catherine compares two car loans. One charges 6% and the other charges 11%. This percentage represents the yearly cost of borrowing.
What is APR?
Natasha saves money for unexpected expenses before going heavy into investing.
What is an emergency fund?
Beau’s lawn-mowing money changes depending on how many jobs he gets.
What is variable income?
Nick spends more money than he has in checking, and the bank allows the transaction but charges
What is an overdraft fee?
You get a lower loan rate because lenders view you as less risky.
What is a strong credit score?
Bella finds the same $25,000 car at two dealerships. One loan has a much lower APR, so she will pay less of THIS over the life of the loan.
What is interest?
Mila spends $2,550 even though she only earns $2,400.
What is overspending?