Credit
What is a good credit score?
670-739 is a safe place to be but don’t go below and aim for higher.
What is a mortgage
A loan that entitles the bank to seize the property should you fail to pay.
When should you start saving for retirement?
As early as possible interest builds better with time.
How many credit cards is a good amount to own
2-3, having multiple lines of credit maintained looks good to creditors and can help build credit more effectively.
Where do you apply for student loans?
Free Application for Federal Student Aid(FAFSA)
Which retirement plan allows you to withdraw your money tax free
Roth IRA
How much credit history do you need to have to apply for a house loan?
2 years minimum history but like most things credit the better and longer the history the better.
What are the four types of student loans?
Direct subsidized loans, Direct unsubsidized loans, Direct PLUS loans, and Direct consolation loans
Is keeping your money in a savings account effective?
No, inflation increases through the years meaning that the value of the money decreases. You could actually lose money!
Is 5% interest rate a good percentage for a car finance?
Anything under 10% is good percentage, but with the best credit score you could get as low as 3%.
Out of the four types of student loans, which is the best option?
Direct subsidized loan Because the interest will be paid by the Government while you attend school.
What does APR mean?
Annual percentage rate or the interest rate that is charged over the course of a year.