True or False?
A want should always be paid for before a need?
False - needs should generally be prioritized.
Scholarships and Grants need to be paid back to the University.
False
Which card usually takes money directly from you bank account when you make a purchase?
Debit card
What is a budget?
A plan for how you will earn, spend, and save money.
What is a resume?
A document listing your work experience, skills, and education.
Saving money can help prepare you for unexpected expenses.
True.
What is one example of enrollment?
Signing up for college or a training program.
What number/score summarizes how well you manage your money?
Credit Score
What is savings?
This is money that is set aside and left untouched for future usage.
What does an hourly wage mean?
Pay earned for each hour worked.
A good budget never needs to be changed.
False.
What form do college students fill out for Federal Financial Aid?
FAFSA
Social Security, Healthcare, Military defense, Debt, Education, Transportation, and Research.
What is a variable expense?
A cost that can change, such as a grocery bill.
Gross pay is money earned before tax deductions and Net pay is money you are taking home.
Your credit score can affect your ability to get a loan.
True.
What are the three examples of qualifications to join the military?
17+, U.S. Citizen/Green card, Highschool Diploma/GED, Pass ASVAB, Background check.
Your credit card has $1000 dollar limit, you have used $750. What percentage of your available credit are you using?
75%.
What type of expense usually stays the same each month. (For ex. Rent)
A fixed expense
Qualifications
The more credit cards you have, the higher your credit score automatically becomes.
False.
What is one financial risk of attending college without planning how to pay for it?
Accumulating significant student loan debt.
Why can paying only the minimum on a credit card cost more over time?
You earn $1,500 monthly, spend $1,100, and save $200. How much remains for other spending
$200.
What is workplace networking?
Building professional relationships that can lead to job opportunities and career growth.