FINANCES
What is a budget?
A plan for how you spend and save money
A number that shows how trustworthy you are with credit
What is a credit score?
Why is drinking water important?
Hydration supports organs, energy, and focus
What is a SMART goal?
A goal that is Specific, Measurable, Achievable, Relevant, and Time‑bound
What is a retirement plan?
A plan for saving for retirement
Helps cover emergencies without debt
What is an emergency fund?
One factor that affects your score.
Payment history, utilization, age of accounts
One benefit of regular exercise.
Improves heart health, mood, and strength
Want vs. need
Need = essential; Want = optional
Employer‑sponsored retirement account
What is a 401(k)?
What is a high‑yield savings account?
A savings account that pays higher interest.
What is a hard inquiry?
A credit check that can lower your score
Checkups to catch problems early
What is preventative care?
What is short- term vs. long‑term planning?
Long-term = decisions today that benefit your future, Short-term = decisions right now/near future
Difference between a Roth IRA and a Traditional IRA
A Roth IRA is taxed now and grows tax‑free; a Traditional IRA is taxed later.
What is asset allocation?
How you divide investments among stocks, bonds, ect.
Explain credit utilization
The percentage of credit you’re using
How stress affects the body?
Raises blood pressure, weakens immunity
What is the first step in solving a problem?
Identifying the real issue, not just the symptoms.
Why compound interest is powerful?
Your money earns interest on top of interest, helping it grow faster over time.
Interest earned on interest over time
What is compound interest?
Secured vs. unsecured credit card.
Secured = deposit required; Unsecured = no deposit
Connection between mental & physical health.
Mental health affects sleep, immunity, habits
What is generational decision‑making?
Making choices that impact your children and future family.
What's the difference between a Trust and a Will?
A will takes effect after death and goes through court; a trust takes effect immediately and avoids court while giving more control over how assets are managed.