Banking
One of the factors influencing which bank you choose.
What is location, convenience, rates, or fees?
A written plan for where your money will go.
What is a spending plan/budget?
This is what credit card companies charge for use of their money.
What is interest, APR (annual percentage rate) ?
This is what is required to open an investment account.
Age 18, social security number, bank account, phone number, US residential address?
When saving money for a longer period of time, but you would still like easy access in case of an emergency, this type of account typically has better yielding interest rates than a standard savings account.
What is a High Yield Savings Account?
The best way to prevent interest charges on your credit card account.
What is paying the statement balance?
The best time to begin saving for retirement.
What is As Soon As Possible?
This happens when you write checks or swipe for more money than is in your account.
What is an overdraft?
Categories within a budget.
What are housing, food, utilities, transportation, debt, recreation, savings, healthcare, clothing, etc.?
This represents the amount of money left over after all bills have been paid.
What is discretionary income?
The limit of money deposited in a bank that is insured by the FDIC.
What is $250,000.00?
How do lenders determine creditworthiness?
What are credit score, debt-to-income ratio, history of loan repayments?
3 areas of focus for building healthy financial habits.
Money Mindset/beliefs, Skill set or knowledge, and Strategy or practices.
When paying off debt owed to more than one creditor, the best plan is to begin by paying extra money each month to the creditor with this.
What is the highest interest rate?
Factors to consider when making an investment.
What is age, risk tolerance, time horizon?