KU Trivia
Who is the current Chancelor of KU
Douglas Girod
Name the two most common banking accounts
Checking and Savings accounts
When should you start saving for retirement?
NOW
What is the difference between a debit and a credit card?
A debit card is money you have placed in an account and a credit card is money you are borrowing that can accrue interest if not paid back
Budgeting helps you to...
There wasn't an answer given so determine if you agree with their answer
How many Official Jayhawk illustrations have there been.
There are 7 different Jayhawks.
Financially speaking, name three wants and three needs
wants- coffee, snacks, entertainment
needs-rent, insurance, utilities
What is life insurance?
Insurance that pays out a sum of money either on the death of the insured person or after a set period of time.
What is the only official site directed by federal law to produce free credit reports?
A fixed expense is...
An expense with a set amount that does not change often
Where was KU basketball played before Allen Fieldhouse?
Budig Hall.
What gains more interest?
A) CD
B) Savings account
C) Index Fund
C) Index fund
What percent of income, on average, should people save for retirement?
15%
True or False: Filing for bankruptcy includes student loans
False
The best way to prepare for unexpected expenses is to:
A) Start an emergency fund with 3-6 months of expenses
B) Get a low interest rate credit card
C) Get a loan
A) Start an emergency fund with 3-6 months of expenses
When was the last time KU won a national championship NOT in men's basketball?
2013, Women's indoor track and field
Name three benefits of keeping your money in the bank
Security, interest earned, easy access, direct deposit
What does IRA stand for in "Roth IRA"?
Individual Retirement Account
Name two pros and cons of having a credit card
Cons: can borrow too much, accrue late fees, damage credit
Pros: build credit, get rewards, pay later, emergency protection, fraud protection
A good budgeting app you can download
Mint
What is Bill Self's son's name?
Tyler Self.
What is the difference between an online and traditional bank?
24/7 phone service vs in person operating hours; mobile deposit vs bank deposit; online management/transfers; fast vs slow processing
What are two basic types of retirement plans?
401(k)- an employer sponsored plan
IRA- a personal retirement plan
All I need to pay on my credit card is the minimum and I will not owe interest. True or False?
False. Any amount still on the credit card at the end of the month will accrue interest.
Disposable income is calculated by
subtracting expenditure from income