MONEY MANAGEMET
Tracking your expenses gives you a strong sense of where your money goes and can help you reach your financial goals. What is this process referred to as?
What is Budgeting
The average American home has about 3 individuals per household. What is the national average poverty line for this household?
What is $24K-$25K
List the 3 Credit Reporting Agencies
What is Equifax, Experian, and Trans Union
What is a fixed amount of money that a patient with health insurance pays for a covered medical service. Copays are usually paid when the service is received, and the insurance company covers the remaining balance.
Don’t give someone else the opportunity to spend your money or use your credit. A few steps you can take to safeguard your personal and financial information include... (Give at least 3 ways)
Don’t give anyone your Social Security, credit card, or bank account numbers unless you know why the individual or organization is requesting them, Don’t just throw away papers that list important account info, shred them. Review your card and bank statements regularly for unauthorized use.
List 3 obstacles to budgeting
Discipline, thinking "it doesn't matter" when it comes to your finances, Unforeseen situations that come up outside of your budget, relying on money that is supposed to be coming in the future (i.e. gifts, ROIs), etc.
A lack of resources to meet basic needs or participate in society is the definition of
What is Poverty
List 3 ways you can establish good credit
Paying bills on time, Try to never exceed 20-30% of your limit, Only apply for credit that you need, etc.
What is YOU.
What is it called when unsuspecting investors are encouraged to pay large up-front joining or membership fees to participate in money-making ventures where the only way for them to ever recover any money is to convince other people to join with a buy-in as well.
A fixed expense is a cost that remains the same or consistent from month to month, or year to year.
A discretionary expense is a non-essential cost that you might choose to spend money on, considered a "want" rather than a "need," meaning it is not necessary for basic survival and can be adjusted or eliminated without significantly impacting daily operations.
Fixed: Rent, Car Insurance | Discretionary: Designer Clothes, Take-out
This is a federally mandated program that helps low-income individuals and families pay for food.
What is Supplemental Nutrition Assistance Program or SNAP, EBT, Food Stamps
The Fair and Isaac Corporation developed the formula used to determine creditworthiness. This is referred to as the
What is FICO score
In the United States, a government program that provides health insurance for adults and children with limited income and resources is known as...
What is Medicaid
You are on Facebook one day when an ad pops up saying you have won a free iPhone. All you have to do is enter your mailing and card information for the shipping fee. Is this a scam?
What is YES
A CD is a savings instrument which typically earns more interest than a savings account but is bound by limits set within a contract. What does CD stand for?
Certificate of Deposit
An urban area in which it is difficult to buy affordable or good-quality fresh food is known as a
What is a Food Desert
What was the Average credit score in 2023?
What is 715
When does open enrollment for health insurance begin each year?
What is November 1st
Medical scams prey on human suffering. They offer solutions where none exist or promise to simplify complex health treatments. What are some of the most common medical scams praying on?
What are Miracle Cures and Weight Loss.
If you don’t repay a debt, what might a creditor place against your property (for example, your house or car) as collateral until you pay up?
What is a Lien
While an individual can connect to and apply for assistance at the local DHHR in their west Virginian county. WV has also established a website where you can apply and keep track of the assistance offered. What is this website called?
What is inROADS
Interest on credit cards usually start out at...
What is 20%-28%
What is the service that helps people and businesses find and enroll in health insurance called?
The Health Insurance Marketplace or The Exchange.
The fraudulent investment scheme where returns to investors are paid from new investors' funds, rather than from the scheme's profits is named after...
Charles Ponzi