Budgeting
What does the "50" in the 50/30/20 rule stand for?
What is "needs or essential expenses"?
What is a credit score?
What is the purpose of a savings account?
What is "to save money and earn interest"?
Saving is low-risk; investing grows weaelth over time with risk.
"Wants" should take up more of your budget than "needs". True or False?
What is "false"?
Name one thing that can hurt your credit score.
Late payments, high balances, too many credit inquiries, etc.
What is an emergency fund?
Money saved for unexpected expenses.
Name one type of investment.
Stocks, bonds, mutual funds, etc.
What is Ivy's Major?
What is the difference between a credit card and a debit card?
Credit = borrowed money
Debit = your money
Monitor account balance, opt out of overdraft, keep a buffer, etc.
What is "more time for compound growth"?
What is the first step in creating a personal budget?
What's "interest" on a loan or credit card?
What is compound interest?
What is a Roth IRA?
What is "a retirement account with tax-free growth"?
If you earn $600/month and want to save 20%, how much should go to savings?
What is "$120"?
True or False: paying only the minimum on a credit card can cost you more in the long run.
What is "true"?
If your savings account earns 2% annually, how much will $1,000 earn in one year?
What is "$20"?
Investing is guaranteed to make money. True or False?
What is "false"?