Job
Name the two types of income you can earn.
What is regular and irregular?
The first step to creating a budget.
What is list your income?
What are checking and savings?
Name two ways that your credit score can be negatively impacted.
What are late/missed payments, high utilization, new, defaulting on loans, credit card application inquiries, bankruptcy?
YTD on your paycheck stands for this
What is year to date?
A lifelong professional journey that requires training and education.
What is career?
You need to differentiate your expenses between these two when creating a budget.
What are wants vs needs?
This occurs when you spend more money in your checking account than you have available.
What is overdrawn/overdraft?
Credit scores range from these numbers.
What is 300-850?
The amount of money you take home after all your deductions.
What is net pay?
The minimum number of hours you need to be considered full-time.
What is 32 hours?
Money spent on goods and services such as bills and groceries.
What are expenses?
Money the bank pays you for keeping your money in a savings account.
What is interest?
Credit card interest rates fall into one of these two categories.
What are fixed and variable.
True or False. When creating a budget, you should use your gross pay?
False.
Name the two types of pay you can earn as an employee.
What is hourly and salary?
A person who understands and knows how to manage money is called this.
What is financially literate?
Name 3 ways that you can deposit a check.
What is at a bank with a teller, an ATM, on your phone/banking app?
Name the factor that makes up the biggest amount (35%) of your credit score.
What is your payment history?
What is federal, Social Security, and Medicare/FICA?
The minimum you must be paid a week to be qualified as salaried employee.
What is $684?
What is the 50/30/20 budget?
What is 50% Needs, 30% Wants, 20% Savings?
This banking feature automatically transfers money from your savings to checking account if your balance dips below $0.
What is overdraft protection?
Name the 3 major credit card bureaus.
What is Equifax, Experian, and TransUnion?
A type of retirement savings that is deducted from your check.
What is 401k?