Expenses & Spending
What is a personal budget used for?
What's one major college expense besides tuition?
Housing, books, or transportation.
What is a credit score?
A number showing creditworthiness.
What's a variable expense?
Costs that change monthly (I.e. food, gas, etc.)
What's the 50/30/20 rule?
50% needs, 30% wants, 20% savings
What's a good credit score range?
670-850
What does "net worth" mean? (i.e. formula)
Assets minus liabilities.
What is a "meal plan" in budgeting terms?
Prepaid food option to manage food costs.
What happens to interest if you only pay the minimum on credit cards?
You pay more interest over time.
If you save $15 Weekly, how much would you have after one year?
$780.00
How can students save on textbooks?
Rent, buy used, or go digital.
What is one way to built credit responsibly?
Pay bills on time or use a secured card.
What's a hidden cost" of college?
Fees, parking, supplies, or travel home.
What is the difference between a grant and a loan?
Grants do not need to be repaid and loans do.