Insurance
People buy this as a form of risk management.
What is Insurance?
The four types of Payment Methods.
What are Cash, Check, Debit Card, and Credit Card?
Your Debit Card is connected to this account.
What is a Checking Account?
An estimate of income and expenses for a set period of time.
What is a Budget?
This is used to store money for longer-term goals.
What is a Savings Account?
This Insurance covers damage to your car from an accident.
What is Collision Insurance?
Unit Price = Total Price / Total units
What is the Unit Price Formula?
Increase in your credit score, paying more interest, and late fees come from this.
What is paying the minimum balance on your credit card?
50/20/30, spreadsheet, envelope method, apps are examples of this.
What are ways to Budget?
The person who helps members with account transactions in a bank.
Who is a Teller?
The amount paid out of pocket by the policyholder before an insurance provider will pay any expenses.
What is a deductible?
Check URL, Check Connection Security Indicators, Look at Trust Seals, Look at website reviews.
What are ways to spot a Fake Website?
A number that depicts a consumer's creditworthiness.
What is a Credit Score?
50% needs, 30% wants, 20% savings.
What is the 50/30/20 rule?
A share of ownership in a company.
What is a Stock?
A formal request from the customer to an insurance company asking for a payment.
What is a Claim?
The best way to get reliable information about a product.
What is searching online reviews?
What is an Overdraft Fee?
What are loans and debts?
The extra amount of money you pay to someone after a loan.
What is Interest?
Wearing a seat belt, not texting when driving, and driving carefully are all forms of this.
What are Risk Management Strategies?
20% down payment, no longer than 4 years, the car payments should not add more than 10% of your gross income.
What is the 20/4/10 rule in car financing?
Payment history, Amounts owed, length of credit history, credit mix, and new credit.
What are factors that create your credit score?
This helps you prepare for unexpected expenses.
What is an Emergency Fund?
When you accidentally spend more money than what is in your account.