Debt
To avoid debt, avoid spending more than you _______
Earn
What is the recommended frequency for reviewing and adjusting your budget?
Monthly
______-term savings are usually spent on upcoming expenses like vacations or major purchases
Short
What are shares of ownership in a company? Potential for high returns but with higher risk.
Stocks
What is a numerical representation of a person's creditworthiness, typically ranging from 300 to 850
Credit Score
This form of good debt can increase your net worth or provide future benefits. Usually taken out to purchase a home or other property.
Mortgage
To create a budget, one must track their income, list you expenses, and set ______ (both short term and long term)
Goals
______-term savings are for future goals such as buying a home or retirement
Long
What are loans to companies or to the government that pay interest over time? Generally lower risk than stocks
Bonds
Generally, a score of ______ or above is considered good.
700
This form of bad debt does not contribute to your financial growth and heavily affects your credit score. Hint* CREDIT score
Credit Card Debt
What percentage of Americans reportedly use a budget?
30%-40%
_______ is key, even small regular contributions can grow over time
Consistency
Investing in ______ _______ can provide rental income and long term value appreciation.
Real Estate
What does "APR" stand for in the context of credit
Annual Percentage Rate
In the US, student loan debt has surpassed $1.7_________
Trillion
A __________ expense refers to costs that remain the same each month, such as rent or mortgage payments.
Fixed
A _______ fund should be 3-6 months worth of expenses to cover UNEXPECTED costs
Emergency
What does "ROI" stand for in the context of investing?
Return on Investment
The 3 main credit bureaus in the US include Experian, TransUnion and ______
Equifax
In what year did the global debt surpass $300 trillion?
2021
What is the financial term for the difference between total income and total expenses?
Net income or net savings
The 50/30/20 rule in budgeting states that 50% of your income goes to needs, 30% to wants, and 20% to ____________
Savings
How easy an asset can be converted into cash without significantly affecting its price is referred to as
Liquidity
How often are consumers entitled to a free credit report from each of the three major credit bureaus?
Once a year