FINANCIAL WELLNESS

BUDGETING

100

Poor financial decisions, credit card debt, and catastrophic circumstances hinder people from doing this.

What is save money?

200

Financial experts recommend you build an emergency fund that covers this many months' worth of expenses.

What is 3-6?

300

This percentage of American adults do not have an emergency "rainy day" fund

What is 27%?

400

List two great ways to save on your grocery costs.

What is (1) make a grocery list and stick to it, (2) don't shop on an empty stomach, (3) use coupons?

500

What is the process of spreading your investments across different asset classes, such as stocks, bonds, and real estate, to minimize exposure to market fluctuations?

What is Diversification?

FINANCIAL TERMS

100

Name the 4 components of Financial Health

What is Spending, Saving, Borrowing and Budgeting?

200

This is known as the amount you owe.

What are liabilities (debts)?

300

Creating this is critical to be in control of your spending.

What is a budget?

400

Assets minus liabilities (debts) equal this.

What is financial net worth?

500

What is the debt reduction strategy where you pay off debt in order of smallest balance to largest balance, gaining momentum as you knock out each balance?

What is Debt Snowball?

MANAGING PERSONAL DEBT

100

Name two of the three major credit reporting agencies.

What are Experian, TransUnion, and Equifax?

200

FICO scores can range between these two numbers (within 100 points).

What is 300 to 850?

300

__________ ____________ loans can be a strategic solution to overcome bad borrowing decisions.

What is Debt Consolidation?

400

This is the best way to improve your credit score.

What is make your payments on time?

500

What should you do with the money you save from paying off your debts?

What is put it in savings?

ELIMINATING DEBT

100

This is the number one cause of debt.

What are credit cards?

200

The estimated average credit card debt per household is __________.

What is $8,674?

300

This is the percentage of credit cardholders that are carrying credit card debt monthly.

What is 50%?

400

In the Debt Snow Ball strategy, which debt balance should get paid off first?

What is the one with the lowest balance?

500

According to Dave Ramsey, how much should you have in your starter Emergency Fund?

What is $1,000?