Paying for College
A monetary award to a student to support their education and is based on their achievements?
Scholarship
What percent of your income should you be saving?
20 - 25%
A share of ownership of a company
What is a stock?
What is a Spending Plan?
- a plan for earning and spending overtime.
- an estimate of income and expenditure for a set period of time.
When you get a paycheck, who do you pay first?
Yourself!
What is a GPA?
The average of your academic grades over a set period of time
What is one difference between a loan and a grant?
A loan you have to eventually pay back. A grant you don't have to pay back.
If you own a stock and the price goes up, you've made a ...
What is a profit?
The money a person earns from doing jobs for another person
Wages
What percent of your monthly income should you be saving?
20-25%
Name 3 ways to help pay for college.
Possible answers: Grants, Scholarships, Loans, Work-Study Programs, Savings, Get a job
What is 1 idea you can do to earn money?
Answers vary
If you own 10 shares of APPLE stock selling at $145, the value of your investment is...?
$1,450
When money is owed to someone else
Debt
What is a credit score?
A score the reflects how often someone pays off their credit.
The additional money you must pay to borrow money.
Interest
Additional money you must pay to borrow money.
Interest
Something you buy/invest into that will make you money over time
Asset
What are two types of interest?
Fixed rate and variable rate
You receive $300 for your birthday. What are two responsible decisions to make.
Save a percentage, invest some in the stock market, purchase soothing that a real need, etc.
What are the documents/information needed to begin completing the FAFSA? (hint: there's 6)
-Social Security Number -Most recent federal income tax returns -An FSA ID to sign electronically -Records of untaxed income (if applicable) -Your Alien Registration Number (if you are not a U.S. citizen) -Bank statements and records of investments (if applicable)
Your credit score is important because
It affects interests rates, impacts future. major purchases, determines whether you can get credit cards/loans
The price of a share is determined by supply and ...
demand
What is an investment?
Setting aside money for future income, benefit, or to meet a long term goal
What is an example of a financial goal?
Paying off debt. Saving for retirement. Building an emergency fund. Buying a home.