Credit vs Debit
Everfi
Vocab
Retirement
School Spirit
100
What is the range of a credit score (worst to best)?
100
What website do you use to log into Everfi without typing in your password?
Clever
100
Savings vs Checking account
Checking Account allows deposits and withdrawals of money; usually used for regular purchases
Savings Account earns interest for money saved up
100
Whats's the difference: assets vs liabilities
assets make you money
liabilities lose you money
100
How many admin are at UHHS?
4
200
35% of Credit score
payment history
200
What are the names of the 3 modules we have worked on as a class thus far?
Smart Money Habits
Budgeting
Credit and Debit Basics
200
what is a credit score?
A credit score is a prediction of your credit behavior, such as how likely you are to pay a loan back on time, based on information from your credit report
200
What is a pension?
A pension is a fund into which amounts are paid regularly during the individual's working career, and from which periodic payments are made to support the person's retirement from work
200
How many clubs are at UHHS?
102 (and counting)
300
What is APR?
Annual percentage rate (APR) refers to the yearly interest generated by a sum that's charged to borrowers or paid to investors
300
What should be prioritized when creating a budget?
Needs and Wants
300
What is credit utilization?
the amount of revolving credit you're using divided by the total credit available to you
300
How do you determine your net worth?
Net worth is the value of all assets, minus the total of all liabilities
300
How many countries has Donald visited?
41 (and counting)
400
What happens if you only pay your minimum on your monthly credit card bill?
You will avoid a late fee but will be charged interest on the remaining balance. This means you will owe more money over time.
400
Jasmine just received her paycheck. To manage her money, she categorizes spending by needs, wants, and savings and debt. What money management strategy is Jasmine following?
50-30-20 rule
400
What is overdraft protection?
Overdraft protection is an optional service that prevents the rejection of charges to a bank account
400
What is Compound interest?
Compound interest is the interest you earn on interest. Compound interest is the interest on savings calculated on both the initial principal and the accumulated interest from previous periods.
400
How old is UHHS?
37 years
500
# benefits of having a higher credit score?
-More lending options
-More affordable rates
-Easier renting
500
How do loan terms affect the cost of credit?
Shorter loan terms have higher monthly payments and lower overall interest
500
what is pros and cons of adding authorized user to a credit card?
The pros of adding an authorized user to a credit card outweigh the cons in most cases. The primary pro of adding an authorized user to an account is that it allows the authorized user to build credit, while the biggest con is that you are responsible for any purchases the authorized user makes
500
401k vs Roth IRA: What's the Difference?
A Roth IRA offers tax-free investment growth and you don't get a tax benefit today. A traditional 401(k) offers the opportunity to put away more and get a tax benefit today, but you will owe taxes later when you withdraw.
500
What is our school motto?
"A high school that feels like a college"