Managing Credit
True or False: Getting a loan will tank your credit score.
False, if you pay the loan back on time it will not kill your credit score.
If I want a $2000 computer and I earn $150 a month how long would I have to wait for it?
14 months. (2000/150=13.333, round up, 14 months)
What is one of the risky options to take when investing?
Individual stocks due to high volatility.
Do I buy the $3 apple or the $2.50 apple.
$2.50 apple, it is cheaper.
FAFSA as a government organization helps with what?
What is opening multiple cards at once, opening multiple accounts at once, closing a long standing account, filling for bankruptcy. (And more)
In simple terms, what is a budget?
What is planning ahead for where to spend money based on future calculations?
What is a good place to invest money for short cash build up?
Savings accounts.
If you're tight on money, what should you avoid?
Unnecessary expenses.
What is an important option to minimize student loan debt for free?
Scholarships.
The highest credit score possible is?
What is 850 points?
Susie has $138, but has to save $42 for her friend's birthday party, she goes out to buy a bunch of paczki at $7 per 3 paczkis, how many paczkis did she buy total?
39 paczkis. (Must be this number)
What is the best stock to invest in should you have a lot of time?
Index funds.
When trying to save money what is something you can do to help?
Compare prices of different competitors selling same/similar products.
Michigan passed did what recently to help students get through community college financially?
Put funds from their budget to fund people getting into community college.
The lowest possible credit score is?
What is 200/250/300 (Depends on credit system)
Why is budgeting important?
It is important to plan for the future rather than stumbling in the dark like a blind fool.
Investing requires a lot of what?
Patience and foresight.
Should you always trust what someone says about a product? Youtubers, advertisers, etc.
No, as they can easily exaggerate, do your own research work into these products.
What is the caveat of scholarships?
They generally have terms and conditions apply to them.
To get a credit card, a majority of the time you must?
What is apply online for a credit card?
6 months. (I earn $332 monthly, so 2068/(650-332)=6<x<7, x being the answer, rounded down for 6.
The best way to always succeed for investing is?
Being able to time travel or be able to see the future.
Are advertisers always telling the absolute truth?
Not really, they generally stretch the truth with their products while not "lying" to get sued.
What should you never do if you cannot help it when paying for college?
Get a student loan.