Investing
This investing strategy spreads your money across different assets to reduce risk?
Diversification
What is the common budgeting rule
50/30/20
Where is Charlie & Maddy studying abroad?
Florence, Italy
What is the typical numerical range of a credit score
300 to 850
This type of interest is charged on both the original amount borrowed and previously earned interest
Compound Interest
This risk, which cannot be eliminated through diversification, is also known as market risk
systematic risk
This is the act of planning how you will spend and save your money each month
Budgeting
What is Rhyees' favorite sport to watch
NFL Football
This type of bank account usually earns higher interest than a checking account but limits how often you can withdraw money
Savings Account
Why is paying the minimum amount on your credit card a bad idea
Credit card companies will charge you high interest on unpaid balances every period
This type of risk affects only a single company or industry and can be reduced with diversification
unsystematic risk
What is the main point of an emergency fund
Remaining debt free when emergencies requiring money present themselves
What is Marinas favorite sport to play?
Tennis
Is a high credit utilization rate good or bad for your credit score and why
It is bad for your credit score because it signals higher risk of non-payment
What is net income?
Money left after taxes and deductions
Why is money today worth more than in the future
Inflation and opportunity cost through investment
What is a Roth IRA
This account allows tax-free growth and withdrawals in retirement
How many countries has Ashley traveled too?
9
What is a high yield saving account
This type of savings account usually earns more interest than a traditional one
What happens to bond prices when interest rates rise
Bond prices fall
This rule of thumb estimates how long it takes for an investment to double by dividing what number by the annual interest rate
72
This is the amount of money you earn before taxes and deductions are taken out
Gross Income
Which board member has the middle name Christopher
Spence
A loan that is backed by collateral, often lowering the interest rate, is called this
A secured loan
This type of bond allows the issuer to repay it before its maturity date
A callable bond