History of Money
Value of money
Budgeting/Banking
Credit
100

 Before banks and paper money, how did people exchange goods?

Bartering/Trading

100

a general increase in prices and fall in the purchasing value of money.

What is inflation?

100

 What does a bank charge in order to make money?

Interest.

100

What credit score is considered excellent credit?

800

200

 Before banks and paper money, how did people exchange goods?

China

200

What was $100 worth in 1930 in terms of today’s dollars?

$1,432.70

200

 What is the 50-30-20 rule?

50% needs, 30% wants, 20% savings

200

What percentage of your credit should you be using each month?

 Up to 30%

300

 What are promissory notes?

Government I.O.Us basically

300

How many pairs of jeans could you buy today with the value of $100 from 1930?

33

300

What is the biggest difference between a credit union and a big bank?

Not-for profit versus for-profit

300

What are the 5 Factors that Make Up Your Credit Score?

  1. Payment history
  2. Credit utilization (amounts owed and number of accounts)
  3. Credit mix
  4. New credit
  5. Length of credit history
400

What were the three Italian city states which introduced the idea of paper money in Italy?

  1. Milan, Venice, and Florence

400

A substance or device used as money, having no intrinsic value or representational value

What is FIAT Money?

400

What was the name of the first bank formed by Congress?

Bank of North America.

400

What four things affect your credit?

Closed credit card, age of credit card, student loans, car loans

500

 In 1640, what role did parliament play that Charles I needed to get the kingdom out of debt?

Levying taxes.

500

What was $1000 worth in 1925 in terms of today’s dollars?

$13,672.10

500

What is financial intermediation?

The lending or investing the money we deposit with banks or credit banks themselves create to business enterprises, households, and governments. 

500

What are the 3 major credit bureaus?

Equifax, Experian, and TransUnion

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