Budgeting Basics
What is the term for a spending plan that helps you manage your income and expenses?
Budgeting
What is a credit score?
A number that represents your creditworthiness
What is the term for the amount borrowed from a lender?
Principal
What kind of car does Arianna drive?
Prius
What is the term for money that is earned or received?
Income
Name one of the three major credit bureaus in the U.S.
Equifax, Experian, or TransUnion
What is the term for the fee you pay to borrow money?
Interest
How many tests and quizzes did we have this semester in math?
5
Name two fixed costs
rent/morgage, monthly subscriptions, phone bill, etc.
What is the maximum % of credit usage you should use on a credit card?
30%
Student, car, mortgage loan
What is Matt's last name?
Martin
What is the financial term for expenses that vary each month?
Variable expense/cost
What is one factor that impacts your credit score the most?
Credit history, late payments
What does APR stand for?
Annual Percentage Rate
What kind of transportation does Kelly use to commute?
Motorcycle
What’s the 50/30/20 rule?
50% needs, 30% wants, 20% savings
What score range is considered "good" credit?
670-739
Why is it important to check your credit report regularly?
To identify errors, prevent fraud, and track your credit history
How many siblings does Ms. T have?
2