Financial Literacy
You have 100 dollars buy spend 200 dollars…that is called
What is Overspending?
Buying something without planning it is known as ____.
What is impuse buying?
This term describes people who lack stable, safe, and adequate housing.
What is housing insecurity
This type of housing program increases the number of low-cost homes available to reduce housing pressure in Bridgeport.
What is affordable housing development
How do housing insecurities impact an individual's mental health?
Can cause increased stress and emotional distress, may contribute to depression and other mental health challenges, and can result in long-term childhood trauma. May negatively affect the healthy development of young people, can increase the risk of substance abuse, and may lead to harmful thoughts that place the individual or others at risk.
Keeping money only in cash can be risky because of ____.
What is inflation?
Sections how you plan to spend or save money is called ____
What is budgeting? 50/30/20 rule
This federal program provides rental assistance to low-income families through vouchers.
What is Section 8
These programs help residents pay rent or avoid eviction before they lose their homes
What are rental assistance and eviction prevention programs?
Why is it important to keep a good credit score? Ranging from (650-800)
What is being able to take out loans, buy a house and/ or borrowing large sums of money?
Having a long history of on-time payments improve _____.
What is your credit score?
This is the extra money you pay when borrowings ( like on a credit Card).
What is Interest ( on debt ) ?
A sudden increase in this major monthly expense is one of the leading causes of housing insecurity.
What is rent
This type of housing combines a place to live with services like mental health care and addiction support.
What is supportive housing
What are the physical impacts that housing insecurities have on individuals?
Increases the risk of developing chronic illnesses such as heart disease, diabetes, and other health conditions
Can lead to malnourishment and poor overall nutrition
Raises the likelihood of experiencing a stroke
Increases the risk of injury due to unsafe or unstable housing conditions
May contribute to cognitive and developmental challenges in children, including conditions such as ADHD and ADD
Saving money for unexpected expenses is called _____ fund.
What is Emergency Funds?
If your expenses increase faster than your income, ______ happens?
What is Financial stress (or Debt risk)?
This situation occurs when a household spends more than 30% of its income on housing costs.
What is being cost-burdened
These programs provide immediate shelter and help people quickly transition back into permanent housing.
What are emergency shelters and rapid rehousing programs
Name 3 CT Laws or policies
CT Laws
Anti-Homelessness Infrastructure: The legislation prohibits policies from preventing homeless individuals from lying and sitting in public areas.
Eviction & Homelessness prevention: The Department of Social Services organizes and leads a program to help struggling families.
Tenant rights & fees: This law limits the amount of money ($50) that a landlord could enforce after a 9-day grace period.
Policies
Eviction prevention & Emergency Assistance: Programs provide up to $7,000 to families being evicted.
Affordable Housing Development: The building incentive of building affordable units.
First Time Homebuyer Support: It provides forgivable down payment assistance to help with owning a home.
Fair Rent Commissions: Requires a town with a population of at least 15,000 people to establish commissions to handle rent.
Why is it better to start investing at 18 instead of 30 ?
What is compound interest having more time to grow your money . / Your investments have more time to growing with you.
What is Risk of loss? Or What is Bankrupt ?
This extreme form of housing insecurity involves living in shelters, cars, or on the streets.
What is homelessness
Addressing this underlying issue—through food security, jobs, and crisis support—is key to preventing repeated housing instability.
What is poverty (or income instability)
Relying heavily on credit for basic needs may indicated this financial issues?
What is Financial Instability or What is living beyond your means?