Random
Name 2 credit reporting agencies
Equifax, Transunion, Experian
In one word, define Capitalism
Competition
How can a landlord use your CS against you?
Higher deposit; deny you; co-signer
Of the 50/30/20 plan, what is the 50?
Bills
What color of car is the most expensive to insure?
Color doesn't matter
Safety nets
Socialism; communism
What is an Inferior Good? Give one example.
Demand decreases as income increases
Name 2 specific reasons someone might file bankruptcy.
Medical debt; CC debt; loss of wage; house too expensive
What is the minimum for a "good" CS?
670
Describe Socialism
Some private business and some government control of the economy
How can an insurance company use your CS against you?
Higher premiums.
Of the 50/30/20 plan, what is the 30?
Yourself
Name 2 things that will make your auto insurance go up.
Tickets; Accidents; Claims; CS dropping
Private businesses
Socialism; Capitalism
What are complementary goods? Give 2 examples
Increase in D = increase in D
How does a tax write-off work?
Lowers your taxable income
Besides the birthing costs, what is usually the most expensive part of having a child?
Child care
Describe Communism
Complete government control of the economy
How can an employer use your CS against you?
Not hire you; Not promote you
Of the 50/30/20 plan, what is the 20?
Retirement and debt
What does Comprehensive Insurance cover?
Damage caused by something other than collision with another vehicle or object.
Lots of choices
Capitalism; socialism
Besides the birthing cost, what is usually the most expensive part about having a child?
Child care
Why do people willingly pay $15,000 for an $11,000 vehicle?
For the privilege of making payments.
Name 2 money mistakes that help keep people poor. This is from the videos.
Don't pay yourself first or enough; keep up with friends; over-use credit cards; Not organizing finances; Paying too much in taxes; Waiting too long to invest for retirement
Name 2 things the USA has in common with Socialism?
Varios answers
How can a telecommunications company use your CS against you?
Deposit; not offer the better packages; co-signer
As a guideline, what's the maximum you should spend on rent/mortgage?
30% of income
What insurance should you get when you move out on your own?
Renters
People can be wealthy
Socialism; Capitalism
How much $ should you have in your emergency fund?
6 months worth of expenses
Why should you get at least a small raise every year?
To keep up with inflation
Name 2 things that might make your life insurance premiums go up.
Medical conditions; lifestyle;
Name 1 thing that the USA has in common with communism.
State controlled schooling
How can a utilities company use your CS against you?
Deposit; co-signer
When planning on adulting, how much of your income should you plan on going towards groceries?
10-15%
Thoroughly explain how a Deductible works.
Amount of repairs/replacement that insurance does not cover.
Competition
Capitalism; Socialism
What 2 things make investing powerful?
Time and exponential growth
Why are savings accounts bad in the long term?
Inflation can mean that more $ might have less buying power than before.