savings
What is rent hacking?
buying a house bigger than you need and renting out the spare rooms to tenants
When shouldyou pay your credit card?
on the statement date
What would you use " emergency saviing" for ?
Car repairs, hospital bills, forgoten gfts
What does "CD" stand for?
Certificate deposit
what is a interest rate?
The amount a lender charges a borrower and is a percentage of the principal-the amount loaned
What is another way to increase your income?
working a side hustle
What happens if you dontpay your credit card in full?
Your interest rate and credit score will go up
What would go into the " fun" category?
Anything extra: apple music, Netflix Hule
What happens if you take out moey from your CD early?
You lose all your interest and have to pay a fee
Which type of credit card should you get if you have no credit history ?
A card with no annual fees
what is income?
The money you bring in every month
What is a good APR range?
between 12% and 16%
What would go into "housing"?
Any bills:water, gas, electricity
Why is it good to look at multiple banks for CD's
Some banks have better interst rates than others
The money to be repaid is usually more than the borrowed amount. True or False? Why?
True. lenders require compensation for the loss of use of the money during the loan period.
What would go into your "fixed" category?
The things that are necessary to be paid
What doe "APR" stand for?
Annual percentage range
what would go into "other" category?
Transportation
What is the benefit of owning CD?
They are safer than stocks and bonds
Is it better to have a Low interest rate or a High interest rate?
Low
What would go into the "fun" category?
Things you dont need but treat yourelf to
Where does the money come from when you use a credit card?
the bank that provides the card
What does "not touching it for a while mean
you cannot take out any money until your desired due date is met
What is the Compound interest method?
The borrower pays even more in interest