Credit
At what age can you apply for your own credit card?
18
What is stock price?
the amount it would cost to buy one share in a company.
What is Inflation?
Rise in prices that effectively makes cash have less buying power
The two main types of bank accounts:
Checking and Savings
Which of the following MOST influences your credit score?
Payment History
Where is the Largest stock exchange located?
New York City, NY, USA
This is a popular saving rule, that divides your income into three categories.
50-30-20 Rule
What is a CD?
Certificate of Deposit
What is the range for an “excellent”credit score?
800-850
This type of trading involves actively buying and selling securities within the same day
Day trading
What items such as house or land become more valuable, this is called _________, an increase of value
What is a joint account?
A joint checking account is a deposit account owned by two or more people.
What is the most popular credit card company?
Chase
How old is the stock market?
Over 400 years old
What is debt to income ratio?
How much money you owe in total versus how much you make
If your account falls into the negatives and you don't have enough money in your account to cover your transactions, what are you subject to?
Overdraft fees
What is the second most important component of your credit score?
Amounts owed
Buying stocks at a discounted price is also called
Value investing
At what age do you file taxes?
List at least two differences between credit and debit cards
Some examples:
- Credit cards can typically be used to build credit. Debit cards typically cannot be used to build credit.
- Debit cards are linked to checking accounts (Your money). Credit cards are revolving credit (Borrowed money).
- Credit cards are likely charged interest. Debit cards typically do not carry interest charges