Adulting
This document outlines the rules and payments for renting an apartment.
What is a lease?
The tendency to stick with a bad investment because you've already put money into it
What is Sunk Cost Fallacy?
Borrowing money and paying it back later
What is Credit?
Having a large number of loans and/or loans that are so expensive you accumulate more debt than you pay off
What is a Debt Cycle?
Employers sometimes add money to retirement accounts through this benefit
What are matching contributions?
Electricity, water, and internet bills are commonly called these.
What are utilities?
The phenomenon where the quality of your financial choices declines after a long day of making other decisions
What is Decision Fatigue?
A number indicating your credit worthiness
what is a Credit Score
These "Payday" lenders charge extremely high interest rates for short-term cash
What are Payday Loans?
This "Market" is where stocks are bought and sold
What is a Stock Exchange?
The person or company you pay rent to each month
What is a Landlord?
This "Effect" makes us value things more simply because we own them
What is the Endowment Effect?
This ratio compares how much credit you use versus how much you have available
What is credit utilization?
Scammers often create this feeling to stop victims from thinking carefully
What is urgency or panic?
An employer sponsored account for retirement savings that is tax deferred
What is a 401(k)?
The money to have to pay up front when purchasing with a loan
What is a Down Payment?
When your body's panic response is activated and your smart thinking brain shuts off
What is Fight or Flight Response?
A person who agrees to repay a loan if you cannot is called this.
What is a co-signer?
This "scheme" uses money from new investors to pay off older investors
What is a Ponzi Scheme?
The strategy of investing a fixed amount of money at regular intervals, regardless of price
What is Dollar-Cost Averaging?
if you don't make your payments on your loan, the bank will take possession of the property you purchased with the loan
What is Reposession?
This "Delayed" concept is the ability to resist an immediate reward in hopes of a bigger one later
What is Delayed Gratification?
This type of credit card requires a cash deposit that serves as your credit limit
A business model where you make more money recruiting new "distributors" than actually selling the product to the public
What is a Pyramid Scheme?
Investments that rise and fall frequently are considered this
What is volatility?