Budgeting
Nothing can start without it
Two accounts that over 90% of Americans have
What is a checkings and savings account?
A small ownership of a company, can grow or lose value
What are stocks?
Paying this makes debt payments last for many, many years
What are minimum payments?
The strongest shield for protecting your money
What is a budget plan?
The lifestyle where a missed paycheck can cause serious trouble
What is living Paycheck to Paycheck?
Monthly costs for having an account, they can be waived if certain criteras are met
What are maintence fees?
A collection of stocks that follow a market (technology, medical, resources, etc.)
What are index funds?
Loses 10% of value immediately and loses another 30 to 40% in the next 5 years
What is a new car?
A common investment tool that is advertised by influences because lack of regulations
What is cryptocurrency?
The "super hard" equation
What is Income - Expenses = $0
Returns more money than their regular counterparts, money is insured
What are High-Yield Savings Accounst?
It tracks the top 500 performing companies in the United States
What is the S&P 500?
Taking responsinility of someone's debt if they can't pay it back, should never be done
What is co-signing?
Designs made by companies to influence purchasing behaviour
What are dark patterns?
A fund created for unexpected life outcomes
What is an emergency fund?
The fastest way into debt
What are credit cards?
A collection of stocks managed by people or robots
What are mutual funds?
Incentives used to keep people using credit cards, they are paid by store transaction fees and people struggling to pay debt off
What Are Credit Card Rewards?
More people in middle and low income purchase this than high income people
What are luxury brand items?
Housing, Food, Transportation, Savings, (Debt Pay/Investing)
What are must have budget categories?
Used to start investing and wealth building, they are not insured
What are brokerage accounts?
This growth is what allows money to grow to millionaire status, the earlier you start the more it will grow
What is compound interest?
Can be best described as a measure of how many times you go into debt and if you pay it off in time
What is a credit score?
Trickery tactics by criminals to take money, disguised as emails, texts, investment opportunities, or even job opportunities
What are scams?