Saving and Investing
What does "pay yourself first" mean in personal finance?
Setting aside money for savings before spending on anything else.
What does the FDIC insure?
The money in your bank account.
What is a credit score?
A 3 digit number that tells a lender how trustworthy you are.
Who is the creator of the Star Wars Franchise?
George Lucas
What does "SMH" stand for?
Shaking My Head.
Name one basic saving option that preserves your initial deposit amount.
Savings accounts
Certificates of Deposit (CDs).
What is one consequence of mismanaging a checking account?
Fees
What type of "loan" is the easiest way to establish your credit through micro-payments.
A credit card.
What person has the most Olympic gold medal?
Michael Phelps
What does "IMO" stand for?
In My Opinion
What can reduce the value of your savings over time?
Inflation.
What is a benefit of using online banking?
Convenience for managing accounts, paying bills, and transferring money.
What is a good debt to income ratio?
35% of your gross income.
How many sides does a dodecagon have?
12 sides.
What does "TL;DR" stand for?
Too Long; Didn’t Read.
What is the main difference between short-term and long-term investments?
Short-term investments are designed for quicker returns, while long-term investments aim for growth over time.
What is one major difference in how banks and credit unions operate to make money?
Banks are for profit.
Credit unions are not for profit.
There are 5 components of your credit score, name 3.
Payment History, Amount Owed, Credit Length (Loan Length), Types of Credit, New Credit
What is the only continent without an active volcano?
Australia
(Antarctica has 2 active volcano's)
You Got That Right
What is the relationship between risk and return in investing?
High Risk = High Return
Low Risk = Low Return
What is the purpose of the National Credit Union Association (NCUA)?
What does APR stand for?
Annual Percentage Rate
What is the only metal that is liquid at room temperature?
Mercury.
What does "DBMIB" mean?
Don't Bother Me I'm Busy