Job
Name the two types of income you can earn.
What is regular and irregular?
The first step to creating a budget.
What is list your income?
What are checking and savings?
Name two ways that your credit score can be negatively impacted.
What are late/missed payments, high utilization, new, defaulting on loans, credit card application inquiries, bankruptcy.
YTD on your paycheck stands for this
What is year to date?
A lifelong professional journey that requires training and education.
What is career?
You need to differentiate between these two when budgeting.
What are wants vs needs?
This occurs when you spend more money in your checking account than you have available.
What is overdrawn?
Credit scores range from these numbers.
What is 300-850?
The amount of money you take home after all your deductions.
What is net pay?
The minimum amount of hours you need to be considered full-tim.
What is 32 hours?
Money spent on goods and services such as bills and groceries.
What are expenses?
Money the bank pays you for keeping your money in a savings account.
What is interest?
Credit card interest rates fall into one of these two categories.
What are fixed and variable.
True or False. When creating a budget, you should use your gross pay?
False.
Name the two types of pay you can earn as an employee.
What is hourly and salaried?
A person who understands and knows how to manage money is called this.
What is financially literate?
Name 3 ways that you can deposit a check.
At a bank with a teller, an ATM, on your phone/banking app.
Name the factor that makes up the biggest amount (35%) of your credit score.
What is your payment history?
What is federal, Social Security, and Medicare/FICA?
The minimum you must be paid a week to be qualified as salaried employee.
What is $684?
What is the 50/30/20 budget?
50% Needs, 30% Wants, 20% Savings
This banking feature automatically transfer from savings to checking account if your balance dips below $0.
What is overdraft protection?
Name the 3 major credit card bureaus.
What is Equifax, Experian, and TransUnion?
A type of retirement savings that is deducted from your check.
What is 401k?