Budget Basics
This is the money you have to work with each month after taxes are taken out.
What is Net Income?
This 3-digit number (350–850) helps lenders decide if you are responsible.
What is a Credit Score?
Unlike loans, these two types of financial aid do not have to be paid back.
What are Scholarships and Grants?
This nine-digit number should never be shared with people you don't trust.
What is a Social Security Number?
This is the monthly fee you pay to keep an insurance policy active.
What is a Premium?
This term describes spending more money than you actually have in your bank account.
What is an Overdraft?
When you use this card, money is taken immediately from your checking account.
What is a Debit Card?
This degree typically takes 4 years of full-time study to complete.
What is a Bachelor’s Degree?
A scam using fake emails to trick you into giving away passwords.
What is Phishing?
This specific insurance covers the other person's car if an accident is your fault.
What is Liability Insurance?
A balanced budget has a difference of this many dollars when you subtract expenses from income.
What is Zero ($0)?
This is the "extra" fee you pay for borrowing money, usually a percentage.
What is Interest?
This plan "locks in" today’s tuition prices for the future.
What is Prepaid College Tuition?
When someone watches you type your PIN over your shoulder.
What is Shoulder Surfing?
Set aside for unexpected events like a job loss or medical bill.
What is an Emergency Fund?
This is your total salary before any taxes or deductions are removed.
What is Gross Salary?
Doing this monthly is the best way to avoid paying interest on a credit card.
What is Paying the balance in full?
Surgeons and lawyers usually require this degree level (8+ years).
What is a Doctorate Degree?
The first thing you should do if you suspect you are a victim of fraud.
What is Contact a credit bureau/place a fraud alert?
This mathematical concept allows your savings to grow faster over time.
What is Compound Interest?
These are the two main categories that make up a budget.
What are Income and Expenses?
Paying only this every month can lead to 30+ years of debt.
What is the Minimum Payment?
This 3-digit number is the specific name of the most common credit score.
What is a FICO Score?
The government agency where you report identity theft.
What is the FTC (Federal Trade Commission)?
These are "rewards" or points you might earn for using a credit card.
What are Credit Card Rewards?