Bigs: Budgeting 101
The three types of expenses
What is:
- Fixed Expense
- Variable Expense
- Non-Monthly Expense
Numerical Representation of Credit Worthiness
What is a credit score?
What is High-Interest Savings and Certificated of Deposit?
Understanding Where Your Money is going
What is a budget?
Guidance & Support, Knowledge Transfer, Relationship Building.
What is Mentoring?
50/30/20 Plan
What is 50% necessities 30% discretionary 20% financial priorities
Higher Credit Score allows for a...
What is lower interest rate?
Qualified Education Investment Account
What is 529 Plans?
Long-Term Goals
What is 5-10 Years from now?
An Individual Seeking Guidance and Knowledge From an Individual with Life Experience and Wisdom
What is a Mentee?
Types of income
what is Fixed income, Variable income, and Combination of Fixed + Variable?
FICO
What is a credit Scoring model?
Two common Long-Term Savings Options
what is 401(k)/403(b) and IRA?
Paper Money, Gift Cards, Checking Accounts.
What is Cash
Types of Mentoring
What is 1-1, Informal, Formal, Group?
Tracking Spending
What is allows you to create a predictable monthly budget?
Unethical or unfair lending Practices
What is Predatory Lending?
Plan to invest pre-tax money
What is 401(k) or 403(b)?
A Loan Of Money From a Bank
What is Credit?
A Plan to Accomplish future achievements.
What is Goal Setting?
The Budgeting Formula
What is income - Fixed Expenses - Variable Expenses - Non-Monthly Expenses = Money for Goals
Three steps to consider for student loan repayment
What is
- Income-based repayment
- Interest Capped loans
- Student loan forgiveness
IRA Max Contributions for 2023
What is $6,500?
The Act of Spending More Money Than You Have.
What is Overspending?
A Mentor teaching a Mentee from past experience.
What is Knowledge Transfer?