Budgeting
This is the first step in creating a budget.
What is tracking your income and expenses?
This three-digit number reflects how risky you are to lenders.
What is a credit score?
This is the main reason people save money?
What is future goals or emergencies?
This document shows how much money you earned and how much was taken out.
What is a paycheck (or pay stub)?
A message asking for your password or Social Security number is likely this.
What is a scam?
A common rule suggests spending 50% on needs, 30% on wants, and 20% on this.
What is savings?
Paying at least this amount on your credit card avoids late fees.
What is the minimum payment?
A savings account usually earns this on your money.
What is Interest.
Money taken out of your paycheck for government programs is called this.
What are taxes?
This common scam promises guaranteed high returns with no risk.
What is an investment scam?
A common rule suggests spending 50% on needs, 30% on wants, and 20% on this.
What is emergency fund?
This factor has the biggest impact on your credit score.
What is payment history?
This investment spreads money across many companies to reduce risk.
What is a mutual fund or ETF?
This account is best for everyday spending.
Urgent messages saying “act now or lose your account” are an example of this tactic.
What is pressure or fear tactics?
If your expenses are greater than your income, your budget has this problem.
What is a deficit?
Using too much of your available credit increases this ratio.
What is credit utilization?
Investing money for a long period generally reduces this.
What is risk?
This protects your money if your bank fails (up to a limit).
What is FDIC insurance?
Clicking unknown links can lead to this type of fraud.
What is phishing?
Name one example of a “fixed expense.”
What is rent / insurance / phone bill / tuition?
This type of interest causes debt to grow faster over time.
What is compound interest?
This term describes money earned on both your original investment and previous earnings.
What is compound growth (or compound interest)?
This fee is charged when you spend more than what’s in your account.
What is an overdraft fee?
This is one safe action to take if you suspect a scam.
What is report it / delete it / verify the source / don’t respond?