Debt
True or False: debt is a tool
How much should a emergency fund be for a teen ?
$500
What does FAFSA stand for?
Federal Application for Federal Student Aid
How much extra money should you have left in a zero based budget.
ZERO
True or False: You need a 4 year degree to be successful
FALSE
What is the main reason not to buy a new car?
Depreciation
3 Reasons to save money
1 Purchases
2 Wealth building
3 Emergency Fund
How many times do you need to do the FAFSA?
Once a year
How often should you reconcile your checkbook?
Monthly
Anything over ---- is a significant purchase?
$ 300
What is the best method to get out of debt?
Snowball
What is a good approach to save up for a big purchase ?
Sinking fund approach
true or false: You need to pay grants back
False
What is a carbon check?
A Copy of your check
Is co signing a loan with a friend a good idea
No
What percent of Americans are in debt
70%
Is inflation a good or a bad thing?
depends can be either
The choices you make in the nest few years will affect the next ---- years of your life?
40
Main reason cash flow plans don't work?
People don't follow through
How often should you make a budget?
Monthly
5 Parts of a FICO score
1 debt history
2 debt levels
3 duration of debt
4 type of debt
5 new debt
What is interest paid on interest previously earned?
Compund Interest
What is the total estimated student debt in the US
7 Trillion
Overdrafts are a sign of ...?
Crisis living
What is the best way to buy anything ?
Cash