Credit Score
This 4-letter company is the most popular creator of credit scoring models used by 90% of top lenders.
What is FICO
This 3-letter acronym represents the yearly interest rate you pay on any balance carried on your card.
What is APR (Annual Percentage Rate)?
What are Stocks?
What is, fractional ownership in a corporation, entitling the holder to a claim on part of the company's assets and earnings.
Credit Card Act of 2009 (WHY)
protects consumers from "predatory" practices by banning retroactive interest rate hikes and requiring banks to be transparent about fees and the true cost of paying only the minimum.
What is a Budget?
What is a summary of your income and expenses for a given period of time.
This is the specific name for the 10% of your score determined by how many and what types of cards you have (e.g., retail, travel, gas).
What is Credit Mix
To avoid paying any interest at all, you must pay this specific amount shown on your statement by the due date.
Daily Double
What is the Statement Balance (or Full Balance)?
What are Bonds?
What is a loan made by an investor to a borrower (government or corporation) for a set period at a fixed or variable interest rate.
Supply and Demand (WHY)
the fundamental mechanism that determines the price and availability of goods by balancing the quantity producers are willing to sell against the quantity consumers are willing to buy.
How do you Calculate your monthly income?
What is Take your yearly salary and divide it by 12
If you can't pay the full balance, you should at least pay this much to avoid hurting your credit score.
What is the Minimum Payment?
This is the maximum amount of money a credit card company will let you spend on your card.
What is Credit Limit
Which type of Investment is considered a low risk investment?
What are Bonds
Inflation (WHY)
total supply of money grows faster than the economy's ability to produce goods and services, which reduces the purchasing power of each individual dollar and drives prices up.
These are bills that stay the same every month, like your rent or your Netflix subscription.
What are Fixed Expenses
What range is considered a good Credit Score
What is, 670 to 739
In the Movie, What did Providian do that changed the Credit Card game?
What is, targeted High risk individuals knowing that they would exploit them by charging them high interest rates.
Which type of investment is considered a High Risk investment
Social Security (WHY)
federal safety net to provide social insurance for the elderly, disabled, and survivors, ensuring that a lifetime of work provides a basic floor of financial dignity and prevents poverty-ridden old age.
These are costs that change from month to month, such as your grocery bill or gas for your car.
What are Variable Expenses?
This makes up 35% of your Credit Score
What is Purchase History
This is the monthly "bill" or document you receive that lists every purchase you made during the last 30 days.
What do the Symbols do on Stocks?
used to identify specific companies, ETFs, or securities on an exchange, making them essential for rapid trading and accurate tracking.
Debt (WHY)
individuals, businesses, and governments to spend money they don’t currently have by "borrowing" from their future income to fund immediate needs, investments, or growth.
What is the 50/30/20 Rule?
what is a straightforward budgeting blueprint designed to help you manage your take-home pay without needing a complex spreadsheet.