Banking
True
All debt is bad debt. True or False
False
___ Income is your take home pay, after all deductions.
Net
What is 1 way to pay tuition?
Savings account, scholarships& grants, student loans, help from family
A number based on information on credit reports; determines your credit worthiness
A bank services it's customers and a credit union services it's _______.
Members
What is debt?
Debt is an amount of money that is owed to another party, typically a person or an organization
Budgeting helps you better understand and _____ your money.
Manage
A two-year degree that can be earned after high school is an _____ degree.
Associates
Having no credit report or score is also known as ________.
Credit invisible
Provide 3 of 5 required items to open an account
Valid photo I.D, Proof of address, and your SSN(or ITIN)
Student loans are an example of ____ debt
Good
The 50/30/20 rule for budgeting involves putting 50% of your income into savings. True or False?
False
What are at least 2 costs associated with college?
Application fees, tuition, books and supplies, room and board
What are the 3 major credit reporting agencies?
Experian, TransUnion, Equifax
List 2 different fees associated with a checking account.
Overdraft fee, atm fee, lost card fee, insufficient funds fee, foreign transaction fee
Good debt is seen as a means to build wealth and improve one's financial situation. True or False
True
What are the three types of income?
Earned, Passive, & Portfolio
A four-year degree that can be earned after high school is an _____ degree.
Bachelors
Negative information can remain on your credit report for _ years
7
If your bank goes out of business, why is your money still safe?
FDIC (Federal Deposit Insurance Corporation)
Credit cards are an example of ___ debt.
Bad
Give me an example of a required deduction from your paycheck..
Social security, Medicare, Taxes(Federal, state, & local)
False
What is the highest credit score you can achieve?
850