Savings
What is setting money aside to help you reach your financial goals?
Savings
What is the term for a three digit numerical rating representing how likely you are to pay off your debts?
Credit Score
When should you start investing your money?
Early
What is one of the three kinds of major options for payment?
Paper, plastic, or electronic
What does the value of a depreciating asset do?
Decrease
What is paying extra for the convenience of borrowing money?
Interest
What do you call a record that details a person’s credit history?
Credit Report
Why do companies sell stock?
To help themselves
Direct Debit allows money to be automatically ______ from your account. (ex. bills)
Withdrawn
The biggest factor in determining the price of a mortgage is ______?
the total cost of the home
What rule calculates how many years it takes you to double your savings?
Rule of 72
What is one of the three major credit bureaus in the United States?
Equifax, TransUnion, or Experian
What is a percentage of the profits paid to shareholders?
Dividend
What loan helps you get by until your next payday?
Payday loans
Typically cars ______ and homes ______. (Must get both correct.)
depreciate, appreciate
When your account ______, your interest is calculated and then _______back into your account. (must get both correct)
Compounds, added
True or False: If you apply for a lot of credit at once, you’re not considered a credit risk?
False
What type of retirement plan requires you to pay taxes on money you contribute now?
Roth IRA
Payday loans can charge up to as much as ____% interest.
900
Leasing means you're agreeing to _____ for a certain period of time
Rent or borrow
How many savings vehicles did we discuss and what are they? (Must get both correct.)
Three and savings account, money market account(MMA), and certificate of deposit
Credit scores help __________ decide how _____ it would be to loan you money. (Must get both correct.)
Financial Institutions; risky
What is Micheal’s movie(The Office) called?
Threat Level Midnight
Credit means you ____ to authorize a purchase, whereas debit means you use your ____ to authorize a purchase. (Must get both correct.)
Sign; PIN
What is NOT a cost typically associated with owning a car?
wear and tear fees, mileage overage fee