How to save money
What is rent hacking?
Have a partner to pay rent and divide the total amount due and pay have of the rent instead of paying the whole thing
Where does the money come from when you use a credit card?
banks
What are three uses for credit cards?
Build credit, pay in a pinch, and earn rewards
Why do you want to shop around for CD’s?
Shop around multiple banks that will have a little higher interest rate.
What is a credit score ?
The record of your payments and how do you use the credit car
What is another strategy to save money?
NOT buying something that you wouldn't need
Which type of credit cards should you start with if you have no credit history?
A credit card from a place that you are familiar with like JCPenney
Why is it bad to have a lot of credit cards?
Because at the end of the day you will not have enough money to pay them all
What is the benefit of a CD?
The interest
How do you build your credit score ?
Buying and paying on time.
Do you know any paraphrases for saving money and what it means?
“Money don’t grow on trees”
That means warning someone to be careful how much money they are spending
When do you get charged the interest rate? (APR)
If you don't pay your loan on time
How does the credit card reward system work?
They borrow you money with a limit and you can't go over the limit and there is a pay time if you don't pay that time there will be interest that will increase your loan.
What does “not touching it for a while” mean?
That you will not be able to touch or use your money.
What is the maximum credit score you can achieve ?
850
What is a way you can increase your income?
invest
What is an interest fact ?
That it increase the valued borrow
What is one thing you should watch out for when using a credit card?
Pay on time
What are the possible penalties for withdrawing your money early from a CD?
There will be some fees.
what is the lowest credit score you can have ?
300
Name a place where you can save money ?
Banks, Credit union, or under the bed
How does the bank make money from you ?
With Interest
What is an interesting fact about not paying on time ?
Interest Take place always the user don’t pay on time
What does the letter C and D mean ?
Certificates of Deposit
What could affect your credit score?
Not paying on time