Budgeting & Banking
A student wants to save money for a car they plan to buy in 5 years and wants the account with the best long-term interest rate. What type of account would most likely be the best choice?
What is a Certificate of Deposit (CD)?
What document is usually one page long and highlights your work experience, skills, and education?
What is a resume?
What do you call the amount you pay every month to keep an insurance policy active?
What is a premium?
What retirement account is often offered through an employer?
What is a 401(k)?
What is one advantage of using a credit card responsibly?
What is building credit or making emergency purchases?
If someone earns $3,000 per month and follows the 50/30/20 rule, how much should go toward savings each month?
What is $600?
Skills like teamwork, communication, and dependability are known as what type of skills?
What are soft skills?
When many people pay premiums into a shared system that helps cover claims, this is called what?
What is risk pooling?
Buying different types of investments to lower risk is called what?
What is diversification?
Which type of debt is usually secured by collateral: credit card debt or an auto loan?
What is an auto loan?
Which type of expense would most likely change from month to month: rent, car payment, internet bill, or groceries?
What are groceries?
What is one benefit of sending a thank-you note after a job interview?
What is making a positive lasting impression?
A driver has a $500 deductible and causes $4,000 in damage covered by insurance. How much must the driver pay first?
What is $500?
A student buys 5 shares of stock at $20 each and later sells them for $30 each. What is the profit?
What is $50
What happens if you only make minimum payments on a credit card balance?
What is paying more interest over time?
Using a debit card at a restaurant affects which account immediately?
What is a checking account?
Attending job fairs and meeting professionals in your field helps you build what?
What is a networking?
Name one factor insurance companies commonly use to determine car insurance rates.
What is driving record, age, or miles driven?
Which federal agency manages retirement benefits for many Americans?
What is the Social Security Administration?
A loan with the same interest rate for the entire loan term is called what?
What is a fixed-rate loan?
If your monthly expenses are $2,500, how much money should be in a 6-month emergency fund?
What is $15,000?
What is the biggest risk of poor time management?
What is failing to achieve goals?
What type of insurance would help pay for damage to your own car after an accident?
What is collision coverage?
Why is diversification considered a smart investing strategy?
What is reducing investment risk?
Why is having a strong credit history important?
What is helping qualify for loans or lower interest rates?