Budgeting
Something necessary to live and function
What is a need
This is the name of the bank-provided card that allows you to withdraw money from your checking account at an ATM or make purchases directly from your account.
What is a debit card
What is the current retirement age?
What is 67
This term refers to the specific subject area that a student chooses to focus on during their college education.
What is a major
What is the max credit score you can get?
What is 850
What is an item that is bought without previous planning or consideration of long term effects.
What is an Impulse Purchase
This is the electronic transfer of money directly into your bank account, often used for paychecks
What is direct deposit
A retirement plan where an employer pays you a fixed amount of money every month after you retire, based on how long you worked and your salary.
What is a Pension
This term describes the main tasks and responsibilities associated with a particular job or career.
What is a job description
This type of credit inquiry occurs when you check your own credit report and does not affect your credit score
What is a soft inquiry
What does the 20% represent in the 50/30/20?
What is savings
This is the term for money added to your checking account, either through deposits or transfers
What is a credit
A retirement savings plan for employees of schools, hospitals, and some non-profits, where you can save money for retirement and it grows tax-free until you take it out.
What is a 403(b)
This type of degree is typically earned after four years of study at a college or university.
What is a bachelor's degree
This term refers to the maximum amount of credit you can access on a credit card or loan.
What is credit limit
How much of your living expenses should be saved in your emergency funds?
What is 3 to 6 months
This is the term for the extra money you earn on your savings account balance over time
What is interest
A retirement savings plan offered by many employers, where you can save part of your paycheck before taxes and invest it to grow your savings for the future.
What is a 401(k)
This document outlines your work history, skills, and qualifications and is typically required when applying for a job
What is a Resume
This factor, which accounts for 35% of your credit score, reflects your history of paying bills on time
What is payment history
This is a non-essential expense that can be adjusted or eliminated to free up money for other priorities
What is a discretionary expense
This government program insures deposits in savings accounts up to a certain limit, protecting your money if the bank fails.
What is the Federal Deposit Insurance Corporation (FDIC)
A government program that gives you money each month after you retire, based on how much you earned and paid in taxes during your working years.
What is social security
This type of role involves gaining insights into a specific profession by observing and learning from experienced professionals.
What is job shadowing
What are the three major credit bureaus that provide credit reports and scores?
What is Equifax, Transunion, Experian