Understanding a Lease
This is the amount you pay upfront that is usually refundable if there’s no damage.
What is a security deposit?
This fluid keeps your engine running smoothly and must be changed regularly.
What is engine oil?
This three-digit number represents your creditworthiness.
What is a credit score?
This emergency fund is typically recommended to cover this many months of expenses.
What is 3–6 months?
This document outlines the rules, rent amount, and responsibilities between tenant and landlord.
What is a lease agreement?
This part of the car connects the vehicle to the road and must be properly inflated.
What are tires?
Paying this on time is one of the biggest factors in building good credit.
What are bills/payments?
This means relying on yourself to make decisions and handle responsibilities.
What is independence?
This clause explains how much notice you must give before moving out.
What is a notice period?
This tool is used to lift your car when changing a tire.
What is a jack?
This ratio compares how much credit you’re using to your total credit limit.
What is credit utilization?
This is the ability to say no and protect your time and energy.
What are setting boundaries?
This fee may be charged if you break your lease early.
What is an early termination fee?
This warning light indicates a problem with your engine system.
What is the check engine light?
This happens when you fail to make payments and it seriously damages your credit score.
What is defaulting (or missing payments/delinquency)?
This skill involves organizing your day to balance work, responsibilities, and free time.
What is time management?
This type of lease automatically renews month-to-month after the initial term ends.
What is a month-to-month lease?
These should be rotated regularly to ensure even wear and longer lifespan.
What are tires?
This is the ideal percentage (or lower) of your credit limit you should use to maintain a good score.
What is 30% or less?
This mindset focuses on learning from mistakes rather than fearing them.
What is a growth mindset?