Banking
The common type of bank account where money grows through interest (very slowly)
Savings Account
The machine used to take out cash through the use of "cards and pins"
(Bonus 500 point if you know what it stands for)
ATM
(Automated Teller Machine)
The Statue of Liberty was a gift from what country
France
Name 2 reasons why someone with $100,000 of debt can be okay with it
Valid reason (Medical reason etc)
Investment (House, Business, Student loan)
Good situation (good job, making good money)
Where you are at in the loan (If the loan was $500,000)
Your credit score can be in between what range?
300-850
The human body has many organs which is the largest
Skin
Why can online only bank accounts give higher interest rates?
Higher interest rates
How do you calculate Net Worth
Assets-Liabilities
What are the 2 types of debt management techniques that we can use to pay off our debts
High Rate
Snowball
Give me a pro and a con of a credit card
Pro- Spend money you don't have, Rewards, Build credit score
Con- Debt, Hurt credit score, Interest
In what year was the first iphone released
2007
What is the type of account that is a timed account where your money is stuck in the account for a period of time but has higher interest rates the longer it cannot be touched
Certificate of Deposit
Give me a pro and a con of a Prepaid Card
Pro- Can't access your accounts, Good for travel, Accessible
Con- Fees, Limited
Which section that makes up the calculation of your credit score makes up the largest percentage
Payment History
Give me a pro and a con of each a Debit card
Pro- Hard to go into debt, ATM, Virtual Wallet
Con- Don't lose/use online, No rewards, etc
Which country has the most active volcanoes
Indonesia
Explain what a Money Market account is and give me a pro and con of it
Middle ground of a checking and savings that has high minimums but can use checks and debit card, and has higher interest rates but have limits of how many withdrawals can be made
Without a credit score name 2 ways you can get a credit card
Cosign
Authorized user
Secured Credit card
Build credit score by paying student loan
Name the 3 main components of every loan
Principal- How much
Loan Term- How long
Interest Rate- How much you pay extra
The percentage calculated by dividing the balance owed from the credit limit
Credit Utilization
What is a group of kangaroos called? (it is also the same word as a large, disorderly, or unruly crowd, often associated with lawless behavior or intense excitement)
Mob