Grants and Loans
What is a grant?
A formal gift of money
During what month are taxes due?
April
How many stocks are in the S&P 500?
500
True or false: Over 80% of Americans have some sort of debt?
True
What is FAFSA?
Free Application for Federal Student Aid
Do loans require you to repay with added interest?
What is sales tax?
Government-imposed tax on the sales of goods and services.
You should always buy___ and sell___
buy low, sell high
Is the average American household student debt above or below $40,000?
Above
What is a 401k plan?
A personal pension account, or retirement funds.
Students get loans to pay for higher____?
Education
What is property tax?
Added tax on the value of a property owned by a corporation or individual.
True or false: A bull market exists when an economy is receding and stocks decline in value?
False
Name 2 essential expenses
Groceries, housing utilities, rent, insurance, transportation
Give an example of when compound interest can be bad.
Debt growing exponentially over time, piling up.
Loans are _______to borrow money
Agreements
Who should you hire to file taxes?
Tax preparer
What is a mutual fund?
A fund that pools money from investors to purchase different securities.
What is the difference between discretionary spending and nondiscretionary spending?
Discretionary: Voluntary expenses, not essential
Nondiscretionary: Essential expenses, important payments
How is credit score calculated?
The timing of your payments, the number of accounts you have open, and your credit history.