Credit
What lenders use to help evaluate how likely someone is to repay borrowed money
What is a credit score?
A plan for how you will plan, spend, and save your money
What is a budget?
A general increase in the prices of goods and services over time.
What is inflation?
What does it mean to earn a stock
What is earning a small share of a company?
Money earned from working
What is income?
Debit is money you already have; credit involves borrowing money and repaying it later
What is the difference between a debit and credit card?
To pay for unexpected expenses without relying on credit or loans
What is an emergency fund?
First Black woman in the U.S to earn a PhD in economics
Who is Dr. Sadie Tanner?
Interest earned on both the original amount and previously earned interest.
What is compound interest?
The value of what you give up when you choose one option over another
What is opportunity cost?
How can making late payments affect your credit score
What is lowering your credit score and negatively affecting your credit history?
Define saving money
What is setting aside money for future use?
What major economic event caused widespread unemployment and bank failures in the 1930s?
What is The Great Depression?
Why is compound interest especially powerful over a long period of time?
What is your earnings can generate additional earnings, allowing your money to grow over time
3 financially responsible ways to use an unexpected lump sum of money
What is save it, invest it, pay down debt, or use as an emergency fund
A few reasons someone could have a poor credit score even if they have a good income.
What is late payments, high credit utilization, and a short credit history?
You earn $2,500. Your expenses are $1,400 and $500, and you want to save $400. Is your budget balanced?
What is yes, $200 will be remaining?
The central bank of the United States.
What is the Federal Reserve?
You invest $2,000 at 7% annual compound interest for 10 years. Approximately how much will you have?
What is $3,934?
A notable founder of NAACP who is also a historic economist
What is W.E.B Du Bois?