Money Management
What is a plan that helps you organize and track your income and expenses
Budget
What is the strategy of investing in assets that are expected to grow at a higher rate than the market average, often with higher risk
growth investing
What is the term for the amount of money you owe to a lender, typically from borrowing?
debt
give me the questions and answers to the 3rd catagory
asset
What is the term for a comparison between the price of a product or service and the value it provides?
cost-benefit analysis
What is the term for money that you set aside for future use and emergencies
Savings
What is the term for an investment strategy where you buy and hold a mix of assets for a long period, minimizing buying and selling
buy and hold investing
What is the term for the amount of money a bank or credit card company charges you for borrowing money?
interest
What is the financial term for the total value of your assets minus your liabilities?
net worth
What is the practice of buying only the things you truly need, avoiding unnecessary purchases, and living within your means?
frugal spending
What is the 50/30/20 rule for budgeting?
a guideline where 50% of your income goes to needs, 30% goes to wants, and 20% goes to savings and debt repayment
What is the financial term for the risk of losing your investment value due to fluctuations in the market
market volatility
What is the term for the number that represents your creditworthiness, showing how likely you are to repay borrowed money?
credit score
What is the term for a financial account where you deposit money to save for future needs, such as a savings account or retirement fund?
deposit account
What is the term for when you choose a less expensive option or wait for a sale to reduce spending?
smart shopping
What is the term for regularly setting aside a fixed percentage of your income for future financial goals, like retirement or large purchases?
paying yourself first
What is the type of investment fund that pools money from many investors to purchase a broad range of assets, and trades on stock exchanges like a stock
Exchange-Traded Fund (ETF)
What is the term for borrowing money now and agreeing to pay it back, often with interest, over a set period?
loan
What is the term for a formal agreement to pay a debt in installments over time, often with interest?
hat is the term for an item that may seem cheap initially but ends up costing more over time due to maintenance, repairs, or inefficiency?
hidden costs
What is the method of tracking your spending by recording each transaction and reviewing it at the end of the month to adjust your budget
zero-based budgeting
Name of the three companies with the highest stock values
Apple, Nvidia, and Microsoft
What is the process of checking your credit history to make sure it is accurate before applying for a loan or credit card?
credit check
What is the term for the value of money or goods that you receive from selling an investment or asset?
capital gain
What is the term for buying something on credit that you cannot afford to pay off in full, leading to debt and interest payments?
impulse buying