Credit
An arrangement that allows you to borrow money now and repay it later.
What is credit?
Three reasons why it is important to save early and often as a young person.
What are control, emergency fund, future responsibilities, being proactive, etc.?
A plan you create to decide how you will spend your money each month.
What is a budget?
The stock exchange symbol for Apple.
What is AAPL?
The phenomenon in which prices rise across the economy, decreasing the purchasing power of your money.
What is inflation?
A number that is calculated based on your credit history that predicts how likely you are to pay back a loan on time.
What is a credit score?
What is starting balance?
What might you include in the essentials category of your budget?
A piece of ownership of a company.
What is a stock?
Services that allow you to buy an item from a retailer and pay for it over time.
What is buy now, pay later?
You can build your credit by becoming _____ on the account of a trusted family member who has a long, responsible credit history.
What is an authorized user?
The interest you earn on interest.
What is compound interest?
The name of the rule that suggests you put 50% of your money towards essentials, 30% towards wants, and 20% towards savings.
What is the 50/30/20 rule?
Which investment has lower risk? An individual stock or a mutual fund?
The microchip shortage was partly caused by this issue.
What is the need for older, and therefore less profitable, microchips?
What is 30%?
The most effective of these three saving strategies: saving $5/day, saving $35/week, or saving $150/month.
What is saving $5/day?
The category that includes items that are not essential, but still important to your life.
What is lifestyle?
The practice of investing in a large variety of stocks, bonds, and/or funds.
There is a shortage of this hot sauce due to the pandemic and severe weather.
What is Sriracha?
The annual fee on the American Express Platinum card.
What is $695?
The percentage of Americans who cannot cover a $400 emergency.
What is 36%?
The most effective type of goal.
What is a SMART goal? (specific, measurable, achievable, relevant, and timely)
The world's second-largest stock exchange.
What is the Nasdaq?
The organization in the United States that insures up to $250,000 of your money when it is in a bank.
What is the Federal Deposit Insurance Corporation?