Credit
What is considered exertional credit score range
800+
Explain income
Money you get
what is a need
food and etc
define live below your means
spend less than you have
The amount of American in credit card debt
105 Millon
If you stack the amount of debt America has in 1-dollar bills, where can you reach?
the moon
Explain expenses
money that comes out
what is a want
Fancy nails, etc
Why do credit card companies target college students
because our brains aren't fully developed until 25 and they want us to get hooked on spending money
Lenth of credit history makes up how much of fico score
15%
Define the Avalanche method
Start from the top and work your way down
explain projected vs actual
projected what is expected
actual the actual amount
Why can't most American achieve their dream life
Debt
First step in getting out of credit card debt is to
not spend more than you have
60%
In 2023 Q3 what is the current amount of accumulated debt from credit cards in america
1 trillion
what is an emergency fund
savings for an unexpected event
What are short term mid term and long term goals useful for
they set goals so you know what you have to do to achieve it
Why is the snowball method recommend
Because it helps you start going and builds momentum
Credit mix makes up how much of a credit score rating
10%
what is the monthly interest of an average credit card
0.63%
How many months of paycheck should you have saved for in your savings
6 months
Hoang and John are apart of what club in school
DECA
What do you have to realize if you want to get out of debt
you have to make sacrifices
what percent of graduating seniors are in credit card debt
80%