Budgeting Basics
What is a plan for how to spend and save your money?
What is a budget?
What score shows how likely you are to repay loans?
What is a credit score?
What loan is used to pay for college?
What is a student loan?
What do you call the extra money your savings earn over time?
What is interest?
What can you use an ATM for?
What is withdrawing cash or checking your balance?
How much of your income should ideally go to savings?
What is 20%?
What’s the highest possible FICO credit score?
What is 850?
What does APR stand for?
What is Annual Percentage Rate?
What’s the name of a common retirement savings plan through work?
What is a 401(k)?
What does FDIC insurance cover?
What is money in a bank account, up to $250,000?
What do you call keeping track of your income and expenses?
What is budgeting?
What’s one factor that affects your credit score?
What is paying bills on time?
What’s the main benefit of a subsidized federal loan?
What is no interest while you’re in school?
What’s it called when you invest in many different things to lower risk?
What is diversification?
What’s the safest way to shop online?
What is using a credit card or secure payment app?
Name one popular app for managing your budget.
What is Nerd Wallet or SmartAsset?
What card helps you build credit by using your own money as a deposit?
What is a secured credit card?
What’s the least amount you must pay each month on a loan?
What is the minimum payment?
What kind of savings account offers a higher interest rate but limits withdrawals?
What is a money market account?
Why is an emergency fund important?
What is to cover unexpected costs?
What does the 50/30/20 rule suggest?
What is 50% for needs, 30% for wants, and 20% for savings or debt?
What happens if you miss a credit card payment?
What is your credit score goes down and you pay late fees?
Name a method to pay off debt faster.
What is the snowball method or avalanche method?
What’s the profit from selling an investment for more than you paid?
What is a capital gain?
What’s one way to protect yourself from identity theft?
What is using two-factor authentication?