Credit/Credit score
what is credit score???
A 3 digit number that tells lenders how likely a person is to pay their debt.
What is budgeting???
A plan to help organize and track expenses over time whether it be saving, goals, or necessities to avoid getting debts.
What is investment risk???
The potential of financial loss and uncertainty in a investment decision.
What is wealth management?
Making financial methods surrounding retirement, taxing and investments.
What is opportunity cost???
The profit or benefit someone missed out on or didn't get from choosing another alternative over another.
What can affect credit score???
Payment history, amount of debt owed, length of credit history, and credit inquiries
Budgeting can help with what???
Manage finances, reduce wasteful spending, paying off debt, etc.
Can investing be risky?
Yes as all investments carry the potential for financial loss.
What can wealth management help with???
It can help with growing, preserving and transferring wealth
What is scarcity?
having a limited supply of resources relative to a person unlimited wants and needs
What can a person's credit score range from???
Between 300 and 850
What role does debt play in budgeting???
It acts as a major fixed expense that dictates significant cash flow, reduces disposable income and encourages long term goals.
Can investments be used for good?
Yes as investments like stocks and bonds help with building long term wealth
What is the process of becoming wealthy?
The process is a long term process of saving or investing in stocks
what is microeconomics and macroeconomics???
Micro=Observing how a company sets their prices, costumer service and labor
Macro=Observing national GDP levels like peoples needs like inflation or unemployment.
Whats the difference between credit score and credit rating???
Credit score measures a person's payment history numerically and credit rating measures it with letter grading.
What is bankruptcy???
A legal process to help people or businesses to repay or eliminate debts they can't afford
What difference is their in investments and bonds???
Investments especially stocks represent ownership in a company and bonds represent loans to a company or government.
How can someone lose their wealth???
Poor financial decisions, overspending, lack of planning, and not thinking rationally
what is equilibrium???
Where opposing forces are brought to perfect balance.
Should someone close unused credit cards???
No, because it can reduce a persons available credit and lower a person's credit score.
Do loans negatively affect debt???
If used wrongly it can cause a person more debt as it's borrowed money especially loans with high interests rates or fees.
what is preferred investments or bonds?
It depends on a situation, but based on research it would be investments.
Are you rich???
idk are you???
Do you like Donald Trump???
Better say no.