Jeopardy of agony

Banking

100

Is a Bank or Credit Union FDIC insured?

Bank

200

This type of account is designed to help you save money and earn interest over time

Savings account

300

This term describes the cost of borrowing money often expressed as a percentage

Interest

400

This banking term refers to the total amount of fees, interest, and other costs charged on a loan, epxressed as an annual percentage.

APR

500

This term descrives the central bank of the United Staes.

The Federal Reserve

Types of Credit

100

The card which checking account money comes from

Debit Card

200

What does APR stand for?

Annual Percentage Rate

300

This is the name for the maximum amount you are allowed to borrow on a credit card

Credit limit

400

Credit Account that typically requires payment in fixed monthly installments and is often used for large purchases like cars or homes

Installment Card

500

This type of credit allows you to make purchases now and pay later but requires full payment of the balance by the due date to avoid interest charges.

Charge Credit Card

Budgeting

100

The 50/30/20 rule

50% of money on needs

30% on personal use or wants

20% into saving

200

What's a 401k?

Retirement savings

300

Why is PYF important

So you don't waste money and set enough aside into savings

400

This long-term saving goal is often for retirement or large purchases like a house.

Investment

500

How do you budget for the envelope method?

you calculate your monthly income and divide them into spending categories based on priority.

Managing Credit

100

How long do you have to pay off credit card bills?

The end of that same month

200

How long does it take to accumulate your first credit score?

3-6 months

300

What will low credit do to your interest rates 

Raise them

400

Using too much available cred compared to the limit, your credit score should drop. This ratio should stay below 30%. What's this ratio called?

Credit Utilization Rate

500

Missing a credit card payment by 30 days or more will be reported to this nationwide system that keeps track of your borrowing history for lenders.

Credit Bureaus

Miscellaneous

100

What's a 20% tip for a 40$ meal?

8

200

Do men or women typically have a higher insurance fee?

Men

300

How much money do you have to make to start filling taxes?

13,850

400

This financial instrument allows you to lend money to a government or corporation in exchange for regular interest payments and repayment of the principal after a set period

A bond

500

The maximum amount of money an insurance company will pay for a covered claim is called

Policy Limit