Budget
What rule suggests dividing income into 50% needs, 30% wants, and 20% savings/debt?
What is the 50-30-20 Rule?
What type of savings account requires a set time to mature and charges a penalty for early withdrawal?
What is a certificate of deposit (CD)?
What are the three major credit bureaus?
What are Equifax, Experian, and TransUnion?
What does the "S" in SMART financial goals stand for?
What is Specific?
What type of expense does not change from month to month?
What is a fixed expense?
What’s one small daily habit that can save $1,000 a year?
What is skipping a $5 coffee three times a week?
What factor makes up 35% of your credit score?
What is payment history?
What type of goal would buying a car in 3 years be?
What is a medium-term goal?
Name one app that offers free credit monitoring.
What is Experian?
Name two examples of “wants” in a budget.
What are entertainment and dining out?
What’s one method to automate savings?
What is payroll direct deposit or automatic bank transfers?
What is the danger of only making minimum payments on credit cards?
What is the “Minimum Payment Trap”?
What type of savings goal would you consider a vacation fund?
What is a short-term goal?
This is how rent payments and utility bills can boost your credit score.
What is self-reporting payment on Experian Boost?
What is the difference between periodic and variable expenses?
What are periodic expenses occurring occasionally, and variable ones changing from month to month?
What type of savings account allows check writing and earns more interest than basic savings?
What is a money market account?
What is the debt repayment strategy where you prioritize paying off debts with the highest interest rates first?
What is the avalanche method?
Why is regularly assessing goals important?
What is to stay aligned with changing circumstances and ensure progress?
What can you do if you find an error on your credit report?
What is dispute the error by online, phone, or mail with a written explanation?
What is MoneyEdu?
An emergency fund should cover how many months' worth of expenses.
What is 3-6 months?
What debt repayment method is the strategy for paying off debts in order of size, from smallest to largest?
What would you consider a savings goal that could take over 5 years?
A long-term goal.
What website offers self-paced personal finance courses to NTPS employees?
What is www.MoneyEdu.org/NTPS?