Auto
What is better with payment, a used car or a new car?
A used car, tends to be cheaper
what is a debit?
a payment that is directly connected to your bank account
what loan is used for buying a house?
a mortgage
easy way to get what you need when shopping
Having a list of what's needed
What does "Pay Yourself First" mean?
what is a car warranty?
covers the cost of repairing certain mechanical and electrical defects
what is pre-paid card?
Is there fees?
a type of gift card with a certain amount of cash, used for any place
Yes, for some there are fees that need to be paid in order to be used.
What is a car loan called?
Auto loan
Does warranty cover Maintenance?
No, they don't cover what is meant to wear down over time of usage
what is credit?
how does it work?
Credit is used to pay back loans with monthly payment with interest
used to help lower interest with any types of loans as long as the score is good
What is a loan shark?
A person that gives out loans, but with insanely high interest rate and a short amount of time to pay it off
what is the 20/3/8 rule?
20% down payment
3 years or less for a loan
monthly payment doesn't exceed 8% of your gross income.
what is a Secured Credit Card?
like a standard credit card but protects the issuer if you fail to pay. A pre-set limit credit limit
Can you use a loan to pay off a bunch of loans and make it one?
What is it called?
Yes, it's under the category of "personal loan"
What is the best way to find a car?
Look between dealerships, and used cars, compare prices and known issues.
What is a Charge Card?
What does it require?
a non set-spending limit
required to pay the entire balance in full when your monthly statement arrives
Is it true you have to get a student loan for college?
What are the alternatives?
False
Financial Student Aid,Scholarships, Grants work-study, and savings
What is the 50/30/20 rule?
50% for needs/ necessities
30% for wants
20% for saving