personal finance
Paying on time is the most significant factor for determining your...
What is credit score?
If you owe money to someone, you are the ________.
What is debtor?/Borrower
This person guarantees repayment of a loan in case a borrower defaults...
What is a co-signer?
A bank account you use to save money...
What is a savings account?
This type of investment allows you to buy a share of a basket of different stocks or bonds
What is a mutual fund?
True or False: You should always pay only the minimum amount due on a credit card.
False. Always pay more to reduce the interest paid.
This is what a lender does when they take back your car due to non-payment...
What is repossess?
This type of interest rate may fluctuate over time and is less risky for the bank.
What is a variable interest rate
Term used to describe what the consumer pays to borrow money. Essentially the cost of a loan.
What is interest?
The average rate of return the stock market has provided in the past 100 years (%)
What is 6-8%?
Budgeting method that states who you should always pay first after earning a paycheck? (& percentage)
Yourself! (savings account)
When you don't pay on a loan...
What is default?
what is a loan for a home called?
What is mortgage?
Bad credit can mean you get turned down for an apartment or a?
What is an auto loan, low interest rates for credit, and even a job?
a company-sponsored retirement account in which employees can contribute a percentage of their income. Employers often offer to match at least some of these contributions.
What is a 401K?
Unlike a Credit Union which is owned by it's members, banks are what kind of institution...
What is for profit?
Experian, Equifax, Transunion
What are the credit reporting agencies
A missed payment and a bankruptcy stays on your credit report how many years?
What is 7 years for a missed payment and up to 10 years for a bankruptcy?
What are the two credit agencies that insure your money in banks and credit unions?
Investing in different assets, securities, etc in an attempt to reduce overall investment risk
What is a diversification?
Originally created by the Fair, Isaac and Company. This is another name for your credit score.
What is FICO score.
character, capacity, capital, collateral, and conditions
After your receive your credit card bill, you have this amount of time to pay the bill before interest is charged.
What is a grace period
what does FASFA stand for?
This is a type of index which tracks the performance of the top 500 stocks traded on the stock exchange
What is the S&P 500?