Credit Cards
DOUBLE POINTS!!!
What is the interest rate charged on borrowed money, expressed as a yearly rate?
What is the Annual Percentage Rate (APR)?
What is a numerical representation of a person's creditworthiness?
What is a credit score?
What is the main reason for investing?
Make your money work for you - Generating wealth
What is an HSA?
Health Savings Account
How many wives has Tony Hawk had?
4, including the 1996 classic Erin Lee
This is the maximum amount of credit that a financial institution extends to a cardholder.
What is a credit limit?
What is the term for the ratio of your current credit card balances to your credit limits?
What is credit utilization?
DOUBLE POINTS!!!
When you buy a stock, what title do you receive, indicating you own a small piece of the company?
What is a shareholder
DOUBLE POINTS!!!
What is a Bull Market vs a Bear Market?
Bull = Period of the stock market going up, optimism, growth
Bear = Period of the stock market going down, fear, decline
How many live-action Alvin & the Chipmunks movies are there?
4, including the 2011 classic "Chipwrecked"
What do you have to do to avoid penalties on a credit card?
Make the minimum payment
This accounts for approximately 35% of your credit score and reflects your ability to pay bills on time.
What is payment history?
These investment funds pool money from multiple investors to invest in a diversified portfolio of stocks and bonds.
What are mutual funds?
A savings account for education
You put in after-tax money
It grows tax-free
And if you use the money for qualified education expenses (like college, K–12 tuition, or student loan payments), you don’t pay taxes on the earnings
529
What is the best selling album of all time?
Thriller - Michael Jackson
Name at least two advantages of using credit cards.
What are rewards, building credit history, or fraud protection?
Why is having a good credit score important?
It affects loan interest rates, your ability to get loans, and if you're eligible to buy certain items.
What term describes a strategy to reduce risk by spreading investments across different assets?
What is diversification?
The most important aspect to saving for retirement is actually contributing money to it & __________
Diversification
How far away is Uranus from the sun?
(In miles or in inches, I'll take either)
1.8152 billion miles
or 115,008,947,200,000 inches
Name at least three common types of rewards associated with credit cards.
What are cash back, travel points, and discounts on purchases?
DOUBLE POINTS!!!
What are two instances when your credit score would be checked?
What are applying for a loan or renting an apartment?
What type of investment includes high risk but also potential high reward?
Hedge Funds
Explain the difference between a Traditional IRA & a Roth IRA
Traditional IRA = tax break now, taxes later
Roth IRA = taxes now, tax break later
Who was the former teacher-turned-outlaw at Green Lake, Texas who enacted revenge on Sam's murderers and left behind her signature calling card of lipstick on their cheek?
Kissin' Kate Barlow
What is the difference between revolving credit and installment credit?
Revolving - You can borrow up to a credit limit, repay it, and borrow again.
Installment - You receive a lump sum of money and pay it back in fixed amounts over a set period of time.
What is a perfect credit score? What range is a "good" credit score?
850
~670 & up
Give 3 Examples of risky investing into a hedge funds
Derivatives, short-selling, and leverage
Describe a 401K & a 403B
401(k) = for for-profit companies
403(b) = for nonprofits, schools, churches, or government jobs
Both: Help you save for retirement, Often come with tax advantage, May include an employer match, Have similar contribution limits and withdrawal rules
Sing the first verse and chorus of these choices:
1. Sugar - Maroon 5
2. Stacy's Mom - Fountains of Wayne
3. Fancy Like - Walker Hayes
4. Livin' on a Prayer - Bon Jovi
Sugar - https://www.youtube.com/watch?v=PqX8aA6w4bM
Stacy's Mom - https://www.youtube.com/watch?v=ddi4V-MS6GA
Fancy Like - https://www.youtube.com/watch?v=3CZB4q1QUrk