Acronyms
PIN
Personal Identification Number
How do you decide which credit card to pay off first when you have multiple?
Pay off the one with the highest interest rate
Name 2 types of lenders
banks, credit unions, independent loan providers (payday loan) credit card companys
How much of your monthly income should go toward savings?
20%
What percentage of American's believe Sherlock Holmes was a real person?
25%
ATM
Automated Teller Machine
Name 3 types of debt
credit card, mortgage, car loan, student loans
Loan payments are based on: APR (annual percentage rate), interest rate or length of loan?
Interest rate and length of loan
What should you research and be prepared to pay prior to moving into a rental property? Current months rent, last months rent, security deposit, or all expenses associated with establishing utilities?
All of the above
Scotland has what mythical creature as part of it's national emblem?
Unicorn
APR
annual or annualized percentage rate, typically of interest on loans or credit
Which generation has the lowest amount of credit card debt?
Millenials
What is the most important financial consideration when deciding whether to take out a college loan? The school you attend; Your GPA and college testing scores; The return on investment you’ll receive from obtaining the degree; Whether you live on-campus or off-campus
The return on investment you’ll receive from obtaining the degree
During what stage of the car buying process should you shop for a car loan?
Before you start searching for a car
What was Walt Disney's biggest fear?
Mice
FDIC
The Federal Deposit Insurance Corp. A government-run organization that insures customers’ bank deposits up to $250,000 if the bank fails
Which generation has the most debt overall?
The average amount of debt by generation in 2020:
Gen X
The average amount of debt by generation in 2020:
What percentage of adults under age of 30 have student loan debt?
34%
How much of your monthly income should go to needs?
50%
What is the most common letter in the English alphabet?
E
APY
Annual percentage yield. The amount of interest you gain from keeping money in an account in a year, including compound interest.
Which income range has the most amount of debt on average?
The average debt based on income scale:
As of 2020, what was the student loan deficit?
1.6 trillion
How often should you reevaluate your financial plan?
changes in employment or marriage status, an increase or reduction in cash flow, or the birth of a baby introduce new considerations for financial planning
How many different flavors of fruit loops are in the original fruit loop cereal
FINAL JEOPARDY: Who is on the $10 bill?
One. They're all the same flavor. "Fruit" flavor.
Alexander Hamilton