Budgeting
According to the 70/20/10 budgeting method, the 20 category is used for this.
What is debt repayment and savings?
The amount you should pay yourself first.
What is 20%?
According to the 50/30/20 budgeting method, the 30 category is used for this.
What are wants?
Student loan debt is considered to be this type of debt. (Good, Bad, Neutral)
What is good debt?
Forbes named this person the youngest "self-made billionaire ever" in 2019.
Who is Kylie Jenner?
This budget gives a purpose to every dollar and cent you have.
What is zero-based budgeting?
We want to purchase a vehicle as close to this price as possible.
What is the dealer invoice price?
You would subtract this from your assets to determine your net worth.
What are liabilities?
Debt for items that decrease in value but are needed for a larger purpose.
What is neutral debt?
The largest lake in the United States?
What is Lake Superior?
Using the 70/20/10 budgeting technique, credit card minimum payments would fall under this category.
What are needs? (70)
After making your money available to the bank, you earn this over time on the principal alone.
What is simple interest?
These terms are used in the acronym "S.M.A.R.T."
What is Specific, Measurable, Achievable, Relevant, Time-Sensitive?
This type of debt is when a creditor has the right to an asset of the debtor if they fail to pay back the loan.
What is secured debt?
The most viewed video on Youtube.
What is baby shark? (15 billion)
The first step in building a budget.
What is selecting a tool to record expenses?
By age 30, you should have at least this amount of money set aside in savings and investments.
What is the equivalent of your current annual salary?
The amount earned on the principal plus any prior interest earnings.
What is compound interest?
These two debt repayment strategies will help you speed up the process of paying off consumer debt.
What is the snowball method & debt avalanche method?
The first rapper to star in a tv sitcom.
Who is Will Smith?
The last step in building a budget.
What is categorizing your expenses according to your budgeting technique?
You can spend money on anything you want as long as:
1. The expenses match your financial philosophy
2. You have budgeted for it.
3. You have the funds available to pay for it.
Investing in high-risk investments.
What is speculating?
The primary disadvantage of this debt repayment strategy is its indifference toward interest rates.
What is the snowball method?
The only team in the NFL to neither host nor play in a super bowl.
Who are the Cleveland Browns?