Life After HIGH SCHOOL
This free application gives students access to federal financial aid, including grants, work-study, and student loans.
What is the FAFSA?
This plan estimates income and expenses to help you decide how much to spend and save.
What is a budget?
This card takes money directly from your bank account when you make a purchase.
What is a debit card?
Consistently paying bills late can lower this number that lenders use to help evaluate borrowers.
What is a credit score?
This is the regular payment you make to keep your insurance coverage active.
What is a premium?
These two Georgia Lottery-funded scholarships help eligible Georgia students pay college tuition.
What are the HOPE and Zell Miller Scholarships?
FICA deductions from your paycheck help fund these two programs.
What are Social Security and Medicare?
This not-for-profit financial institution is owned by its members and often offers lower loan rates and fees.
What is a credit union?
Equifax, Experian, and TransUnion are the three major national examples of these organizations.
What are credit bureaus?
An injury temporarily prevents Carlton from working. This type of insurance can replace part of his lost income.
What is disability insurance?
When comparing college, military service, and employment, this decision-making model helps you identify options and weigh their costs and benefits.
What is a rational decision-making model?
You want to take a vacation in six months. Instead of borrowing or buying risky investments, this is the safest way to prepare financially.
What is regularly setting aside money in an interest-earning savings account?
An employee contributes part of each paycheck to this employer-sponsored retirement plan, and the employer may match some contributions.
What is a 401(k)?
A couple pledges their home to secure a business loan. Their home serves as this.
What is collateral?
Choosing a higher insurance deductible generally causes this change in your premium.
What is a lower premium?
An employer finds offensive posts on an applicant’s social media and decides not to hire them. This online trail can affect a person’s career and finances.
What is a digital footprint?
Federal income tax is an example of this tax structure, which takes a larger percentage of income as taxable income rises.
What is a progressive tax?
Bob wants professional management and an investment that pools money to purchase a variety of securities. This investment fits his goals.
What is a mutual fund?
Credit cards often have higher interest rates than car loans. To reduce total interest costs, borrowers generally should prioritize paying down which debt first?
What is credit card debt?
An email pretending to be from your bank asks you to click a link and enter your account information. This scam is called this.
What is phishing?
A family invests in property and stocks, then creates a will naming beneficiaries. These actions help build this type of wealth passed from one generation to the next.
What is generational wealth?
Two shoppers pay the same sales tax on identical purchases, but the tax takes a larger share of the lower-income shopper’s earnings. This describes the burden of this type of tax.
What is a regressive tax?
Calvin needs his money for college in two years. He wants very low risk and can leave the money untouched for a set term. This bank product fits his needs.
What is a certificate of deposit, or CD?
On a typical fixed-rate amortizing loan, the total monthly payment stays the same. As the balance falls, explain what happens to the principal and interest portions.
What is more of each payment goes toward principal and less goes toward interest?
Name the agency that oversees securities markets and the agency created by the Dodd-Frank Act to protect consumers dealing with financial companies.
What are the Securities and Exchange Commission (SEC) and the Consumer Financial Protection Bureau (CFPB)?