Credit
What number shows how good you are at paying bills and affects loans and renting?
What is a credit score?
Rent, utilities, food
What are examples of needs when managing money?
A list of past addresses within the last 5-10 years
What is an example of something you need for housing history?
A contract outlining the terms under which one party agrees to rent an asset (in this case: property)
What is a lease?
Pills, cigarette butts, and feminine hygiene products
What are examples of products that are NOT flushable?
What fee do you pay when you don't pay your full credit card bill on time?
What is interest
A plan for income and expenses, a reflection of your priorities, a pathway to freedom
What is budgeting?
Making on-time payments
What is a strategy for building your credit score?
Rent amount, due date of the rent, and the expiration date of the lease
What are common features of a lease?
Privacy concerns, lease violations, discrimination
What are possible issues with the landlord?
What is the most money you can borrow on a credit card called?
What is a credit limit?
50% needs, 30% wants, 20% savings
What is the 50/30/30 rule of budgeting?
Expungement, sealing, pardon
What are 3 forms of record clearing?
Not reading the lease carefully, not inspecting the unit before entering the lease, not understanding maintenance responsibilities, poor commmunication with the landlord, ignoring lease renewal terms, neglecting security deposits
What are some common misunderstandings/mistakes tenants make when entering a lease?
Some important tasks to complete before moving into a new apartment
What is budgeting, packing, labeling boxes, setting up utilities
When you use all your available credit and have no remaining balance to spend
What is maxing out your credit card
Keeping a log of the money you spend and receive to get a better sense of where your money comes from
Income and expense tracking
Beginning with a positive statement, then stating the facts, and ending with more positive statements
The OREO Method
Members of the military, domestic violence victims (recent with proof), and in some states older adults with a disability, health conditions, or a medical crisis
What are examples of protected groups of people that may have more leeway in ending leases early?
Where to find affordable furniture and household essentials
Thrift stores, buy-nothing groups, community giveaways
The term for the percentage of your available credit that you are using
What is credit utilization
Putting specific amounts of money into envelopes representing different budgeting categories
What is the envelope method of budgeting?
What is proof of income?
This allows tenants to terminate leases under a specific set of conditions or when landlords do not fill their contractual obligations
What is an early termination clause?
Things to do on moving day to make the transition smoother
What are unpacking essentials first, have food plan set up, have supports to help, meeting neighbors, ensure utilities work?