Credit
How can you avoid paying interest on your credit card?
What is a budget
Its a plan you write down to decide how you will spend your money each month
what is the advantage of starting to invest at a young age
you have the flexibility and time to study investing and learn from the successes and failures
why does it make sense to start investing right now
the faster you can grow your money and make it work for you
why is it vitally important to understand the fees your bank may charge on your checking account
it can help help you avoid costly mistakes.
What are 2 reasons someone might want to open a secured credit card?
1. You're looking to establish or build credit. ...
2. You don't mind paying a refundable deposit. ...
Why might creating a budget be important
its is important because you can save money
why is investing a more powerful tool to build long-term wealth than saving
investing allows you the opportunity to earn a higher return
name three strategies you could use to fight the urge to impulse buy
Using a budget
Building healthy shopping habits
Harnessing delayed gratification
True or False: once you are signed up for overdraft protection you cannot opt out
False
Explain how secured credit cards work
requires a cash deposit usually equal to your credit limit to be made when you open the account.
all of the following options are considered a "need" except
A- music streaming subscription
B- gas for your car
C- monthly health insurance premium
D- rent
A- music streaming subscription
what are two ways that investors can make money from stocks
Dividends
Capital gains
in what ways can social media motivate people to spend more money
they make adds so you can see what the new item looks like
what are some examples of fees that can be seen on a bank statement
ATM fees and overdraft fees
How does your credit score impact the personal loan options you have available?
all of the following are considered "wants" except
A- electricity and gas
B- new fall sweater
C- eating at your favorite local restaurant
D- Netflix subscription
A- electricity and gas
why would investors compare their performance to the S&P 500
because it includes 500 companies in the U.S. across all sectors
why shouldn't you keep your emergency fund money in your checking account
so you don't spend on accident
how do you think people kept track of how much money was in their account on any given day
they used physical monthly statements from banks, manually updating checkbooks, and passbooks
list 3 types of lends who grant personal loans
Discover
universal credit
upstart
which of the following statements about savings is true
A- saving is best for long-term goals only
B- setting aside money each month consistently will help you in the long run when future needs come up
C- you should dedicate 20% of your income to computer upgrades each month
D- monthly expenses like utilities should be categorized under saving
B- setting aside money each month consistently will help you in the long run when future needs come up
what are three barriers to beating the market
investment fees, taxes and investor psychology
why is the 50-30-20 rule easy for people to follow
because it 50%-needs 30%-wants 20%-saving and debt repayment
why should up balance your check book
it helps you track your cash flow and identify any errors or signs of fraud.