Credit & Debt
What are the two main types of credit?
What are revolving and installment credit?
What does “diversify your portfolio” mean?
What is spreading investments across different assets to reduce risk?
What’s the 50/30/20 rule?
What is 50% needs, 30% wants, 20% savings/debt?
What does IRA stand for?
What is Individual Retirement Account?
True or False: Emotions play a big role in financial decisions.
What is true?
What percentage of your credit score is based on your payment history?
What is 35%?
What’s a low-cost investment option that trades like a stock but includes many companies?
What is an ETF (Exchange-Traded Fund)?
What’s an emergency fund for?
What is to cover unexpected expenses like car repairs or job loss?
What’s one benefit of a Roth IRA?
What is tax-free withdrawals in retirement?
What’s dollar-cost averaging?
What is investing a fixed amount regularly regardless of market conditions?
If you max out a credit card, what part of your score takes a hit?
What is credit utilization?
Why is “timing the market” risky?
Because missing just a few of the best days can drastically hurt your returns.
Name one tool you can use to track spending.
What is a budgeting app, spreadsheet, or paper journal?
What’s the contribution limit for a Roth IRA in 2025 for someone under 50?
What is $7,000?
Why is “time in the market” better than “timing the market”?
Because consistent investing beats trying to guess highs and lows.
What’s a healthy debt-to-income ratio?
What is below 36%?
What’s the #1 factor in long-term investment returns?
What is asset allocation?
You make $2,500/month. What’s the max rent you should aim for?
What is $750 (30% or less of income)?
Joe invests $200/month from age 25 to 65. At 8% return, how much will he have?
What is $698,730?
What’s one behavioral mistake people make during a downturn?
What is panic selling or pulling money out?
Name three steps to improve a poor credit score.
What are pay bills on time, lower credit utilization, and dispute errors on credit reports?
Give two reasons not to pick individual stocks.
What are it's hard to predict winners, and it increases risk?
What's the difference between fixed and variable expenses?
Fixed stay the same (e.g., rent), variable can change (e.g., groceries).
What’s the difference between a Traditional IRA and a Roth IRA when it comes to taxes?
A Traditional IRA gives you a tax break now but you pay taxes on withdrawals later. A Roth IRA is taxed now, but withdrawals are tax-free in retirement.
Name 3 good money habits for long-term success.
What are automate savings, review budget, and avoid lifestyle inflation?