Behavioral Economics
The Fear of Missing Out
What is FOMO?
This account is for saving and investing.
What is a savings account
This is one way that someone can go into debt.
What is... many answers that Ms. Kutter will approve?
This is the type of insurance you need when you buy a car.
What is auto insurance?
This method has you split your budget into 50% needs, 30% wants, and 20% savings/debt management.
What is the 50/30/20 method?
The 4 life values are inner, social, physical, and...
What is financial?
This account is for easy deposits and withdrawals, and comes with a debit card.
What is a checking account?
This is a 3 digit number that shows your creditworthiness.
What is a credit score?
What is a deductible?
This budgeting method has you put money into your savings account first before doing anything else.
What is the "Pay Yourself First" method?
These are tricks used in websites or apps that make you do something you didn't want or mean to
What are Dark Patterns?
This is a term to describe someone who has access to a bank account, but relies on other financial services.
What is underbanked?
What is interest?
This is the type of insurance you need to buy before you sign a lease for an apartment.
What is renter's insurance?
Using a smaller cart and listening to music while shopping is a way to budget for...
What is food?
This is a systematic error in thinking that happens when we take in and process information to make mental shortcuts.
What is Cognitive Bias?
This is a bank fee you pay when you take money out of your savings account more than 6 times in a month.
What is excessive transaction fee?
This is the range for credit scores.
What is 300 to 850?
This is what you pay each month to keep your insurance policy active.
What is a premium?
This is an expense that changes over a period of time.
What is a variable expense?
This type of influencing in advertisement is when the company wants you to trust them because they are the experts.
What is "Authority"?
What are 2 things your employer can offer you/contribute to?
What are health insurance and 401(k)?
What is a "deadbeat" when it comes to credit card use?
What is someone who pays their bill in full each time?
One speeding ticket can raise your auto insurance by this much.
What is 30%?
This harnesses compound interest and higher average returns to grow your wealth faster.
What is investing?