Personal finance
A percentage paid to a lender for the use of borrowed money is called
interest
Putting money into stocks, bonds, or mutual funds is called this.
Investing
What is personal finance
Management of an individual’s financial resources
The total cost to attend college, including tuition, fees, and living expenses.
Cost of Attendance
Something that you own takes money out of your pocket
Liability
This document shows how much money is in your bank account and recent transactions.
Bank Statement
You don’t have to pay interest on this type of federal loan while in school.
Subsidized
Failing to pay back your student loans can hurt this key financial score.
Credit Score
Money given to students based on financial need that doesn’t need to be repaid.
Grant
Designed for holding money you don't plan to spend immediately
savings account
The total money you earn before taxes and deductions.
Gross Income
Ideal for everyday transactions
Debit card
Money upfront for a loan
Down Payment
This is the money you earn from investments or savings.
APY
The number that represents how responsible you are with credit.
Credit Score
Rent is an example of what type of expense
Fixed
What's it called to have multiple types of investments?
Diversification
The S in SMART goals?
Specific
Something that you own that puts money into your pocket
Asset
Principal and Interest
A type of account that tends to offer a higher interest rate than traditional savings accounts, but you have access to the funds.
money market account
Paying only this amount on your credit card each month can lead to growing debt.
Minimum Payment
The idea that your money grows faster when you earn interest on both your principal and previous interest.
Compound interest
5 things you FICO Credit Score consists of
Payment History, Amounts Owed, Length of Credit, New Credit, and Types of Credit
6.2%