Investing
It is when you put money or effort into something to make a profit or achieve a result.
What is invest?
It is the cost to cover basic household expenses.
What is cost of living?
Budgeting is the process of planning, organising, and controlling income and expenses to achieve this.
What is financial goals?
When you can start earning a paycheck.
What is 16 years old?
A self-contained living space that includes essential amenities such as a kitchen, bathroom, and living area, all on one level of a building.
What is a flat?
The definition of an emergency fund.
What is dedicated savings reserve set aside to cover unexpected expenses or financial emergencies, providing a financial safety net and preventing debt?
The average price of rent in the UK. (Closest to the amount gets the points)
What is £1,400?
People budget the money they make in order to owing other people money, which is called this.
What is debt?
The minimum wage for apprentices.
What is £8.00?
A clear, standardised estimate of a property’s worth under normal conditions.
What is market value?
The name of the loan you take to buy a home, where the property itself acts as security until the loan is fully repaid.
What is a mortgage?
This tax is used to fund essential local services such as education, waste management, and policing.
What is council tax?
You can use this to help personally track your income and expenses.
What is a budgeting app, notebook, ledger, or spreadsheets?
The definition of a pension.
What is a way to save money for your retirement while you work?
The UK government initiative to help first-time buyers purchase a home by discounting it between 30% to 50% compared to market value.
What is a First-Time Buyer's Scheme?
The definition of the stock market.
What is a platform where shares of publicly traded companies are bought and sold?
The average amount those in the UK repay in mortgage fees per month. (Closest to the amount gets the points)
What is £1,100?
The average cost of groceries per person per month. (Closest to the amount gets the points)
What is £280?
The definition of income tax.
What is the tax you pay on your earnings from your job?
The person who handles all legal aspects of purchasing a home for any homeowner, including safely transferring the home to your name and protecting you and your interests throughout the entire process.
Who is a solicitor?
A good version of this can save you money, improve your borrowing options, and open doors to financial and lifestyle opportunities.
What is a good credit score?
The average cost of a couple raising a child in the UK from birth to 18 years old. (Closest to the amount gets the points)
What is £259,028?
How budgeting can help your credit score.
What is improved payment history, lower credit utilization, and reduced debt, all of which contribute to a higher and more stable credit score?
The maximum amount of income you do not have to pay tax on. This is called your standard Personal Allowance. (Closest to the amount gets the points)
What is £12,570?
A good credit score improves your chances of getting approval to get this.
What is a mortgage?