Debt
This is bad debt.
What is spending money you don't have on something you don't need?
This is the largest factor in determining your credit score.
What is payment history?
This is an account from which checks are written and debit cards are paid from.
What is a checking account?
This is the most powerful force in the universe.
What is compound interest?
This is an organized summary of work experience, education, and other qualifications for a job.
What is a resume?
These are the basic guidelines for paying off any debt.
What is by reducing spending and increasing revenue, if possible?
This is an example of installment credit.
What is a loan?
This is the term for many members of a bank deciding to empty their accounts all at once out of fear of the bank's insolvency.
What is a bank run?
The name for the number of times per year interest is calculated on an account (eg, 12 if monthly).
What is a compounding step?
This is an-in person discussion with a manager or representative about an individual's possible employment with a company.
What is an interview?
This is the most efficient way to pay off debt.
What is by paying off high-interest loans first?
This is an example of revolving credit.
What is a credit card?
This is a member-owned financial institution with fewer resources but better benefits for clients.
What is a credit union?
This is the formula for continuous interest.
What is Pert?
This is a detailed statement of interest in a job, including a paragraph-form summary of qualifications, sent alongside other application materials.
What is a cover letter?
This method of paying off debt uses psychology to make your progress in paying off debts more visible.
What is a "debt snowball"
This is why your credit score and income are considered when applying for a loan.
What is to determine your willingness and ability to pay off debt?
This is the obligation of certain financial institutions to act in the best interest of their clients.
What is a fiduciary duty?
This is the amount of money an account should have in order to see a desired amount of growth over a period of time.
What is present value?
This is the difference between salaries and wages.
What is salary is paid yearly, regardless of hours worked, while wages are paid hourly?
This is why people end up in debt.
What is by investing in a long-term need, like a home or car, or by not keeping track of spending?
These are the five factors for determining credit score.
What are payment history, credit utilization, age of accounts, inquiries, and credit mix?
This is how banks make money.
What is by loaning funds deposited by members and investing?
** DAILY DOUBLE **
This is what makes compound interest so powerful and so dangerous.
What is paying interest on interest?
This is the entire procedure of getting a job, from application to on-boarding.
What is the hiring process?