Credit
This three-digit number determines how creditworthy you are to lenders.
What is a credit Score ?
This budgeting rule suggests spending 50% on needs, 30% on wants, and 20% on savings.
What is the 50/30/20 rule?
This type of bank account earns interest over time and is great for short-term savings.
What is a high yields savings account?
This retail event happens the day after Thanksgiving and offers big discounts.
What is Black Friday?
True or False: Checking your credit score too often will lower it.
What is false? (Soft inquiries, like checking your own score, do not affect it.)
Paying this bill late can negatively impact your credit score.
What is a credit card (or loan) payment?
This term describes money left over after paying all your necessary expenses.
What is disposable income?
A financial safety net with 3-6 months' worth of expenses is called what?
What is an emergency fund?
Buying something on impulse rather than planning for it is called what?
What is impulse buying?
True or False: You need to carry a balance on your credit card to build credit.
What is false? (Paying off your balance in full each month is best.)
What is the highest possible FICO credit score you can achieve.
What is 850?
The process of tracking income and expenses to manage your money wisely.
What is budgeting?
The name for the extra money you earn on your savings or investments over time.
What is interest (or return on investment)?
The technique of comparing prices across different stores or websites before purchasing.
What is price shopping (or comparison shopping)?
The belief that keeping all your money in cash is safer than using a bank ignores this financial risk.
What is inflation? (Cash loses value over time due to rising prices.)
Checking your own credit score through a soft injury will have this impact on your credit score.
What’s no impact?
The term for unexpected expenses, such as a car repair or medical bill.
What is an emergency expense?
This tax-advantaged account helps you save for retirement, with contributions often made pre-tax.
What is a 401(k) (or IRA)?
A buy-one-get-one-free deal is often referred to by this acronym.
What is BOGO?
This phrase describes a financial scam where returns are paid to early investors using new investors’ money.
What is a Ponzi scheme?
The percentage of your credit limit that experts recommend using to maintain a good score.
What is 30% or less?
A zero-based budget requires every dollar of income to be assigned to these.
What are expenses, savings, or investments?
This term describes spreading your investments across different assets to reduce risk.
What is diversification?
The strategy of delaying purchases to make sure they are necessary and fit within your budget.
What is the 24-hour rule?
Many people think rich people don’t use these, but in reality, they often take advantage of them for rewards and benefits.
What are credit cards?