Credit Cards
What does HYSA stand for?
High-Yield Savings Account
Name one budgeting method besides 50/30/20.
Zero-Based Budgeting, 70-20-10
What do stocks represent?
What is an emergency fund?
The main benefit of using a credit card
Builds credit and earns rewards
True or False: HYSAs usually offer higher APY than regular savings accounts.
True
What is the 50/30/20 rule?
50% needs, 30% wants, 20% savings
What is an ETF?
Exchange-Traded Fund, basket of assets
Name one tip for building an emergency fund.
Start small, HYSA, budget separately, refill after use
Name a common caution of credit cards
Late fees, overspending, or accumulating debt
Why should you choose a reputable bank for an HYSA?
Best rate, security
True or False: Budgeting helps grow money and maintain wealth.
True
Name one tip for successful investing.
Start early, diversify, stay consistent, think long-term
Scenario: You use $500 from your emergency fund for car repairs. What should you do next?
Refill it
Best strategy to avoid paying interest on a credit card.
Pay balance in full each month, payments
Name two advantages of a HYSA over a regular savings account.
Higher APY, safer than stocks, easy access
Explain why budgeting styles vary among students.
Different spending habits, income, priorities
Alex wants to invest for retirement and also keep money flexible short-term. Which accounts might he use?
Roth IRA for retirement, Individual Account for flexibility
Why is it important to keep an emergency fund separate from your checking account?
Prevent accidental spending
What is the purpose of a student credit card?
No annual fee, flexibility, credit-building
Why is a higher APY better?
Money grows with interest, higher APY = more interest
Scenario: You earn $2,000/month. Using 50/30/20, how much goes to savings?
$400
What shouldn't you do when investing?
Panic when markets drop, think long-term
Name all 4 tips to build an emergency fund
Have it in high-yield, start small ex. $50/ month, make sure you refill it if used, keep it separate from spending