managing credit
Why does higher credit utilization decrease your credit score?
Because lenders are unsure of your ability to handle your handle.
How can you use online or mobile banking apps to help you pay your bills on time each month?
By setting an alert when bills are due
What type of medical savings account allows you to take money out of a paycheck without it being taxed
A tax-advantaged medical savings account.
What are some negative risks of too much stress?
poor sleep and high blood pressure
A dividend is.
A payment you receive from companies profit when you own stock shares in that company
What is the best definition of a credit score?
A number that shows a snapshot of your credit at a specific moment in time.
Moving money from a savings account to a checking account at the same financial institution is called a ___
transfer
In order to know the exact medical test or procedure you will have, you should ask for a billing code from the-
doctors office
How do stress and mental wellness struggles affect decision-making?
they make it harder to evaluate risk and rewards
Getting $100 today is worth more than getting $100 a year from now because
you can invest it now and it'll began to grow
What is the best definition of a credit report?
A history of how you pay back loans and credit cards
Why would someone need to visit a financial institution branch?
To talk to a representative in person
what is the best way to help pay for medical bills and potentially stay out of medical debt
Health insurance
Landon is feeling overwhelmed by his finances. He worries he isn't bringing in enough money and he's surprised every time he runs out of money before his next paycheck. What is the first step Landon should take?
track all of his spending to see where the money is going
Which investment type is a fixed-income investment, meaning you get paid on a regular schedule?
bonds
What is a good strategy if you want to improve your credit score?
Minimize new applications for credit
Use public wi-fi with a secure password
Max is having trouble paying his medical bills even after his health insurance paid for some and he has negotiated his lowest price. What should he do next?
Ask for a payment plan with his doctors office
Taking a break from social media, getting some exercise, talking with a trusted person, and avoiding drugs and alcohol are all examples of
Things you can do reduce stress over time
A person that invests all of their money in buying and selling individual company stocks most likely has which risk tolerance level?
high-risk
What are the most effective strategies for consistently paying bills on time, and how can technology help?
Have a budget and plan.
Which is not a feature of online banking?
Ordering food for delivery
If you have health insurance, what is one thing that can cause you to have high bills and possibly go into debt?
using out of network doctors and facilities
Kevin is concerned about applying for college. He knows it can be expensive and that his family won't be able to help out financially. He wants to reduce his stress about paying for college. What should they do?
talk to the guidance counselor
A recent aluminum shortage has made it difficult for soda companies to make cans. Which type of investment risk relates to this situation?
industry risk