Money Moves
What is the 50/30/20 rule used for?
Budgeting your income
50% needs, 30% wants, 20% savings.
What does FAFSA stand for?
Free Application for Federal Student Aid.
What does IRS stand for?
Internal Revenue Service.
What’s the cheapest meal plan?
Cooking at home or meal prepping.
What’s the fancy word for owning part of a company?
A shareholder or investor.
What’s the first step you should take before creating a budget?
Tracking your income and expenses.
What’s the difference between subsidized and unsubsidized student loans?
The government pays interest on subsidized loans while you’re in school and not on unsubsidized.
What’s a good rule for how much of your monthly income should go toward rent?
Around 30%.
What’s one way to save on textbooks?
Rent, buy used, or use digital/online copies.
What does ROI stand for?
Return on Investment.
What’s one way to improve your credit score quickly?
Paying bills on time and reducing credit card balances.
What’s one advantage of applying for scholarships every semester?
Free money that doesn’t need to be repaid / reduces loan debt.
What’s the name of the amount you pay before your insurance starts covering costs?
Deductible.
What’s a simple way to cut entertainment costs while still having fun?
Use free campus events or student discounts.
What’s the difference between a stock and a bond?
Stock = ownership; bond = loan to company/government.
Name one way students can earn extra money outside of campus jobs.
Starting a side hustle (e.g., reselling, tutoring, freelancing, etc.).
Name two common types of on-campus jobs.
Examples: library assistant, resident advisor (RA), student tutor, or rec center worker.
This type of insurance helps you when your phone gets stolen, or you flood the kitchen cooking ramen.
Renter’s insurance.
If your monthly budget is $600 and rent is $450, how much do you have left for everything else ?
$150.
What’s one benefit of investing early, even with small amounts?
More time for compound interest to grow your money.
If you earn $400/month from a side hustle and save 25% of it, how much do you save in 6 months?
$400 × 0.25 × 6 = $600
If your tuition is $10,000, your scholarship covers $4,000, and you get $3,000 in grants, how much remains to pay?
$3,000.
You graduate and realize adulthood costs more than expected. What’s one post-college expense students often forget to budget for?
Health insurance, student loan payments, or emergency savings.
True or False: Using a credit card for small purchases and paying it off monthly can help your credit score.
True.
If you invest $500 and it grows to $600, what’s your ROI percentage?
20%.