Budgeting
This is the term for a spending plan that ensures you don't spend more money than you earn.
What is a budget?
This type of account is best for putting aside money you don’t want to spend immediately
What is a savings account?
This three-digit number represents your creditworthiness to lenders.
What is a credit score?
This type of investment represents ownership in a company.
What is a stock?
Consistently safeguarding your personal financial data is key to preventing this crime where someone uses your identity for gain.
What is identity theft?
When you track what you spend each month and split costs into "needs" v.s "wants", you are doing this.
Financial experts recommend saving enough to cover this many months of basic living expenses in an emergency fund.
What is 3–6 months of expenses?
One factor that helps your credit score is making this on time each month.
What is on-time payments?
Financial investing class teaches basics about stocks, funds, and this other popular asset type. (B_ _s)
What are bonds (or ETFs)?
Never enter sensitive information on a site that doesn’t start with this. (H---S)
What is HTTPS (“lock” in URL)?
A good budget usually includes money set aside each month for this type of financial cushion for unexpected expenses.
What is an emergency fund?
When a bank pays you money on your savings balance, this is called what?
What is interest?
Opening many new credit accounts in a short time can negatively affect this part of your credit profile.
What is credit inquiries / new accounts?
This investment principle means earnings produce more earnings over time — a key reason to start early.
What is compound interest?
According to financial safety guides, you should avoid using unsecured public ___ when accessing financial accounts.
What is Wi-Fi?
Cutting back on eating out or entertainment expenses typically helps improve this part of your personal finances.
What is reducing discretionary spending?
This Virginia Credit Union tool helps you calculate how much you need to save to reach a goal, like a car or vacation.
What is a savings goal calculator?
Using too much of your available credit on a card is called this ratio.
What is credit utilization ratio?
A diversified investment portfolio often includes many types of assets to spread this out or reduce this.
What is risk?
Shredding documents containing SSNs, account numbers, and other private info helps protect against this. (D------r Diving)
What is Dumpster Diving?
What is the budgeting method that assigns every dollar of your income a job (such as expenses, savings, or investments)? (Hint: popular method taught in personal finance)
What is the zero-based budgeting method (or similar)?
What strategy involves using multiple savings certificates with different maturity dates to potentially earn more?
What is a certificate laddering strategy?
Removing mistakes on your credit report can help your score because lenders base decisions on this detailed document.
What is a credit report?
Money we invest should come from our surplus or d----------y income.
What is discretionary income?
If you suspect your identity is compromised, freezing your credit report with major bureaus reduces this risk before applying for new credit.
What is credit freeze?