CREDIT
What is Credit Score?
This three digit number summarizes your creditworthiness and is used by lenders to decide whether to approve loans or credit cards.
What is the 50/30/20 Rule?
50% of your income goes to needs, 30% to wants, and 20% to savings.
What is a Stock?
A stock is a type of investment that represents partial ownership in a company.
What is APR?
It represents the cost of borrowing money over a year, expressed as a percentage, including interest and some fees.
What is a High Yield Savings Account?
A high-yield savings account is a type of savings account that pays a higher interest rate than a traditional savings account.
Why does the Stock Market Fluctuate Up & Down?
The stock markets fluctuates up and down because prices are constantly adjusting based on supply and demand.
What Percentage of your FICO score does Credit Length Affect?
The length of your credit history accounts for about 15% of your FICO credit score.
What is a Zero Based Budget?
A zero-based budget is a budgeting method where every dollar of your income is assigned a specific purpose so that your income minus your expense equals zero at the end of the month.
What's the Difference Between Stocks, Bonds, and ETFs?
A stock represents ownership in a single company, A bond represents a loan you give to a government or company, and an ETF lets you buy many investments at once in a single purchase.