Finance
What is a savings account?
A bank account that lets you save money for long-term goals.
What is something you should have BEFORE planning to live on your own?
A JOB!
What does shared utilities mean?
Roommates split the bills 50/50
What is an ID? Provide Examples.
An official document that verifies a person's identity. Examples include driver's license, passport, and state-issued ID.
What is rent?
Contracted amount paid monthly for a rental unit
What is a debit card?
A card that takes money directly from your bank account. Typically used to buy goods or services and to withdraw cash from an ATM.
To maintain a clean space, I will need to?
-Have the proper cleaning supplies
-Learn to clean/disinfect properly
-Manage a cleaning routine
-Clean up after self and visitors
You notice your visitor takes one of your roommate's food items and eats it, what should you do?
Communicate the situation with your roommate and replace the item.
What forms of transportation are available in Merced?
Walk, Car, Bus, Uber, Lyft, Taxi, Bike, Scooter, Friends and Family.
What are the upfront costs when renting an apartment?
Deposit (Usually same amount as rent)
1st Month's Rent
When should a bill be paid?
BEFORE the due date.
What are the 3 most common utility bills you are responsible for when living on your own?
PG&E (electricity and gas), internet, water/sewer/garbage (if not included in rent).
What is needed to be in a successful roommate situation?
Set boundaries, communicate clear expectations, and respect each other's space and privacy.
Need vs. Want?
Needs- essential for survival and basic functioning (food, shelter, healthcare)
Wants- improve quality of life but are not necessary (entertainment, luxury items).
What is the average rent for a studio/1-bed unit in Merced?
The average rental is $1,100
What is a credit card?
A credit card is a card that lets you buy things and pay for them later, with interest. It's like a loan from a bank that you can use to make purchases.
To avoid paying interest, you must pay the total statement balance owed prior to the due date.
How to BEST plan for the future?
Set realistic, measurable and attainable short- and long-term goals.
The best way to complete household duties is...?
Divided household duties equally between roommates.
What is a reference? Provide example.
A person who can speak about your skills, work ethic, and attitude.
Supervisor, social worker, coworkers, any person who has worked closely with you.
What is a maintenance request/work order?
It is a formal notification—often submitted via email, portal, or phone—alerting a property manager, landlord, or maintenance staff to fix, service, or install something in the unit.
What is an Emergency Fund?
Money you save for things you don't expect to happen.
What are some skills needed to live independently?
Time Management, Budgeting, Social Skills, Hygiene/Health, Cleaning, Food Shopping and Prepping.
How can you reach a Temperature Control Agreement with a roommate/s? (Thermostat settings for heating and air conditioning)
Communicate and agree on a thermostat setting comfortable for all individuals involved. Document the agreed-upon temperatures for day, night, and seasons in writing to avoid conflict. Compromise by using tools like fans, space heaters, or heavier blankets.
What is a Credit Score?
What range is Considered Good Credit?
A number that estimates how likely you are to repay debt; it's used by lenders to decide whether to give you credit. Credit scores are usually between 300 and 850.
A "Good" credit score typically ranges from 670 to 739.
What is typically provided when applying for a rental property?
A rental application, valid photo ID, SS# (background/credit check), proof of income (paystubs), employment verification, rental history, references, pet documentation, and renter's insurance-depending on the lease agreement.