Loans/ Net worth and Assets
What is a loan?
What is money that one person, organization, or bank gives to another with the agreement that it will be paid back later, usually with interest.
What is a prepaid card?
What is You load money onto it first, then spend from that balance?
What is a budget?
What is is a plan that outlines how much money you expect to earn and how you intend to spend or save it over a specific period of time.?
What is a expense?
What is money you spend to buy something or pay for a service. It’s basically the cost of living, working, or doing business.
What is Gross pay?
What is the pay before deductions?
Describe an asset vs liability .
What is .. Asset= something you OWN, liability = something you owe.
What is a debit card? and what type of account is it attached to?
What is s a payment card that lets you spend money directly from your bank account.
Checking Account
50/30/20 What is allocated to what?
What is Needs, Wants and Savings?
What is a variable expense?
What is an expense that changes?
What is Net pay?
What is the "take home" pay? Money brought home after taxes
What is the worst type of loan to get?
What is a pay day loan?
What is a credit card?
What is... borrowed money that has to be paid back later?
What are the 3 types of budgets we discussed?
What is Traditional, Zero based balanced and 50/30/20?
What is a fixed expense?
What is an expense that stays the same?
What does "Pay to the order of" mean on a check?
What is the person or place you are paying
What is a unsecured loan?
What is unsecured loan a type of loan that is not backed by any collateral (like a house or car).
What does CVV stand for?
What is Card Verification Value?
What does "Pay yourself first" mean?
What is a saving strategy to sat aside money for your savings, or yourself before paying your bills.
What is an irregular expense?
What is an expense that does not happen often?
What is the difference between payee and payor?
What is the payor is the person/ business making the payment. Payee is the person/ business receiving the check?
What is a the formula for networth?
What is.. Net worth= assets-liabilities
How many digits does cards have?
What is 16 digits?
What does SMART stand for?
What is Specific, Measurable, Achievable, Relevant and Time-bound?
What is a trade off?
What is giving something for the same value of another?
What is a routing number and how many digits does it have?
What is is a 9-digit code used in the U.S. to identify the specific bank or financial institution where an account is held?