Budgeting I
Something you must have to survive.
What is a need?
Ut's the number of years it takes to double your money at 12% interest rates.
What is 6 years?
This money is used to cover necessary but unexpected expenses (such as an emergency medical expense).
What is an emergency fund?
It's a fraudulent practice of sending emails or other messages purporting to be from reputable sources to trick individuals to reveal personal information, such as passwords and credit card numbers.
What is phishing?
It's the use of technology to harass, threaten, embarrass, or target another person online. Those inappropriate interactions online should be blocked and reported to a trusted adult such as parent or teacher.
What is cyberbullying?
Something that would be fun to have but you can live without.
What is a want?
It's a charge you pay on a loan to the entity (usually a bank) that lends you the money.
What is the interest charge?
It's the ability to earn interests on interests when they are reinvested.
What is the compounding effect?
It's a secure, multistep form of authentication requiring the user to enter a password/username in addition to a code sent to the user's smartphone.
What is a 2 factor authentication (2FA)?
It is used to to log into secure site or app and it's unique, lengthy, different for different accounts and doesn't use personal information.
What is a (strong) password?
It's plan for managing money that comes in (income) and that comes out (expenses).
What is a budget?
It's a percentage of the borrowed amount that will have to be paid to whoever lends you money.
What is the interest rate?
This rule helps individuals balance their spending and savings by allocating percentages to needs, wants, and savings.
What is the 50-30-20 Rule?
It's a threat to distributing a victim's personal images or videos unless a ransom is paid.
What is sextortion?
It's the ability (or a right) of an individual to prevent unknown and unwanted individuals from seeing information about themselves.
What is privacy?
It's money borrowed from someone that must be repaid plus a cost (interest).
What is a debt?
Money earned on money in a savings account.
What is interest income?
This method involves keeping a detailed record of expenses to analyze spending habits.
What is a "money diary"?
Are settings on your phone that allow the user to control what information is being gathered, used and displayed publicly. The help control your privacy exposure on social media.
What are privacy settings?
It is a malicious threat that seeks to damage data, steal data, or disrupt digital life in general.
What is a cyber threat.
It's money set aside for the future expenses and that you do not need to spend right away.
What is savings?
At this interest rate you will double your money in 10 years.
What is 7.2%.
Time it will take to double your money with the help of compound interest
What is the rule of 72?
It's content shared on social media. Once on the web, you will loose control of who sees it and cannot be deleted. Even if shared privately, it will likely leak to the world wide web for everyone to see it.
What is a post?
It's a type of malicious software designed to block access to a computer system until a sum of money is paid.
What is a ransomeware?