Money Basics
A plan for how you'll spend your money each month.
What is a budget
This card lets you borrow money up to a certain limit and repay it later.
What is a credit card.
Asking for this at your current job can increase your earnings.
What is a raise
This is what IRA stands for.
What is individual retirement account.
This is the amount of money you earn after taxes are deducted.
What is net income.
A 3-digit number that tells lenders how trustworthy you are with money.
What is a credit score
A flexible job or gig you do on the side to earn extra income.
What is a side hustle.
This type of investment represents ownership in a company.
What is a stock
The ability to understand and effectively manage personal finances, encompassing skills like budgeting, saving, investing, and debt management, enabling individuals to make informed decisions and achieve their financial goals.
What is financial literacy.
A loan you take out to buy a home.
What is a mortgage.
This is the term for money you earn before taxes are taken out.
What is gross income.
This is a retirement account that is taxed up front.
What is a Roth IRA.
This type of account allows you to set aside money for future expenses while earning interest over time.
What is a savings account.
This score range is considered "excellent" credit.
What is 740-850.
This government form shows how much you earned and how much was withheld for taxes.
What is W-2 form?
This index fund tracks the performance of 500 of the largest U.S. companies.
What is S & P 500
This term refers to the decrease in purchasing power of money, often described as the silent thief of wealth.
What is inflation.
What is interest.
Financial advisors recommend saving at least this percent of your income.
What is 20%.
While not always true this phrase is common with investing. High Risk, High ____
What is High Risk, High Reward.