Credit
Installment
What's the difference between investing and saving?
Investing- long term
Saving- short term
What is a high-yield savings account?
Savings account that has a higher interest rate than other accounts
The town of Nauvoo, Illinois is home to the 2nd largest population of this religion in America:
Mormon
This type of credit involves open-ended credit limits with minimum monthly payments varying depending on usage
Revolving
Index funds follow _____ investment strategies, while mutual funds follow _______
Index- passive
Mutual- active
What type of account would you use for regular spending purposes?
Checking
What's the difference between "variable" & "fixed" expenses? Provide one example of each.
Variable- changes
ex: gas, utilities, groceries
Fixed- stays the same
ex: rent/mortgage, car payment, phone bill
The wreck of the Edmund Fitzgerald occurred on this great lake:
Lake Superior
What is the biggest factor of your credit score?
Late/missed payments
Why might someone invest in a bond rather than a stock?
Safer investment, you're guaranteed your money back
True/False: You can spend money from your savings account using your debit card
False
Why is it difficult to budget with a part-time, hourly job?
Your income is variable, making it difficult to anticipate how much income you'll be working with each month
Which EG math teacher posts dad jokes outside their room?
Mr. Walloch
What is a "term length"?
Length of the loan/credit
P/E ratio tells investors....
How much they'd need to invest (on average) to make $1 in earnings on a stock
How much of your income should be going towards owning a car (monthly payments/gas/insurance)?
10-15%
What's the 50/30/20 rule?
50%- needs
30%- savings/debt
20%- wants
What 2 documents do you need in order to successfully apply for most jobs as an adult?
Resume, Cover Letter
The thing that makes debt secured or unsecured is:
Collateral (an item of value attached to the debt)
If you wanted to see a stock's volatility (how much it changes), you would look at:
52-week range (high/low)
Assign the following actions with the correct corresponding accounts: Checking, Savings, High-Yield Savings, Bond, Stock
1. You're retiring soon, so you want to put your money somewhere you're guaranteed returns
2. You're saving up for a car
3. You're buying Chipotle for lunch
4. You have a longer-term savings account that you deposit 20% of your paychecks towards
5. You want to invest in Microsoft
1. Bonds
2. Savings account
3. Checking
4. High-yield savings account
5. Stock
What's the difference between net & gross income? Which one do we budget with?
Net- income AFTER taxes and deductions
Gross- income BEFORE taxes and deductions
We budget with NET INCOME.
Name the previous 5 U.S. Presidents
Trump
Biden
Obama
Bush
Clinton