Getting Organized
spending all of your money as soon as it is earned
paycheck to paycheck
If something is generic it is not...
name brand
this means money is worth less and less every year
inflation
One way to establish your credit is to....
open a checking account, take out a small loan, apply for a secure credit card
You should give out your personal info, like, address, email and phone number on any website you see.
False - you should only give out personal information on websites that are trustworthy
what does it mean to make "budget cuts"
to reduce spending, to find areas in your spending where you could save money
the reason for someone to do something, or for why something is done is called this
purpose
this means something can be sold for cash very quickly
liquid
You should look for errors or omissions and negative information in your...
credit report
False - it's illegal
Give me an example of a fixed expense
mortgage, subscriptions, internet, loans
Name one way to help reduce debt
pay off high interest / long term debt
make more than the monthly payment
make a budget
make budget cuts
this means the ability someone has to make purchases or the ability they have to spend
purchasing power
this is the percentage of money charged to your credit card each month
interest rate
How can you protect yourself from identity theft?
monitor your bank accounts, credit accounts. do not share personal information or card information on websites that are unfamiliar.. etc
Give me an example of a variable expense
You must secure a loan from the bank. Does this mean: tie it down, get one, or make it safe?
You get one or obtain one
this type of account creates little interest and is easy to get cash out of quickly
savings account
one way to improve your credit score is to..
pay your bills on time, pay off the amount borrowed in full, only charge small amounts and pay them off ASAP
This is when emails are sent to steal personal information
Phishing
If you are able to save and have the money to buy what you need, and maybe also give money to charity from time to time you are...
living within one's means
What is a deductible?
Money paid when something happens to your insurance company
an investment that might lead to you losing money could be described as...
risky, dangerous, etc
this can be used as collateral
assets like .... money, real estate properties, cars..
What is skimming?
Stealing credit/debit card information