Budgeting
This budgeting rule allocates 50% to needs, 30% to wants, and 20% to savings.
What is: 50/30/20 Rule?
This is the most important factor in your credit score.
What is Payment History?
This is the regular amount you pay to keep an insurance policy active.
What is premium?
These accounts typically earn higher interest and are good for long-term savings.
What is a High Yield Savings?
This account is used for everyday purchases and often includes a debit card.
What is a checking account?
This financial safety net should cover 3–6 months of living expenses.
What is Emergency Fund?
You should aim to keep your credit utilization ratio under this percent.
What is 30%?
This is what you pay out-of-pocket before insurance starts to cover costs.
What is a deductible?
Buying a stock is buying a piece of ___________ in a company.
What is ownership?
This account earns interest and is intended for storing money over time.
What is a savings account?
The main purpose of this financial tool is to track and control your spending.
What is a budget?
This type of credit includes credit cards and can be reused up to a limit.
What is revolving credit?
If your deductible is $1,000 and a theft costs $800, this is how much your insurance pays
What is 0$?
Spreading out your investments to reduce risk is called this.
What is diversification?
: These online accounts often offer higher interest due to reduced overhead costs.
What is online savings account?
Cutting back on these types of expenses can help you save more. Hint: Needs Vs Wants
What are Wants?
Applying for too many of these can lower your score.
What are credit cards OR new lines of credit?
This is the percentage you and your insurance company share after the deductible is met.
What is Co-Insurance?
As interest rates rise, this happens to bond prices.
What is they fall? They are inverse!
This term refers to using someones personal information for fraudulent purposes.
What is identify theft?
A well-crafted goal in this format is specific, measurable, achievable, relevant, and time-bound.
What is a SMART goal?
Subtracting liabilities from assets gives you this financial measure.
What is net worth?
If damages total $6,200 and your deductible is $1,000, this is how much insurance pays.
What is $5,200?
Investing in startup companies with no financial history is considered this.
What is high risk investment?
This term refers to donating money, time, or resources to a long term cause.
What is philanthropy?