Banking
One of the factors people use when choosing a bank
What is location, convenience, rates or fees?
Doing this well help you stay on track towards reaching your financial goals
What is save money, budgeting, paying off debt?
This signifies partial ownership of a company and is a high risk, high reward financial vehicle to invest in
What are stocks?
One of the three major credit reporting agencies.
What are Experian, TransUnion, and Equifax?
This office provides interactive workshops to learn about topics such as mental health, nutrition, financial wellness, substance use.
What is Hokie Wellness?
A request for your bank to pay another party from funds in your account
What is a check?
Financial experts recommend you build an emergency fund that covers this many months' worth of expenses.
What is 3-6?
Your employer may offer you this as an employee benefit that provides you a way to save money to grow over time to use when you are no longer working
What is a retirement plan?
The best way to reduce your credit card debt.
What is pay off your credit card in full each period?
This is the factor of your credit score that carries the most weight
What is payment history?
This is the amount of time after you graduate you have before you have to start making payments on your federal student loans.
What is six months?
This is an outline of estimated earnings and expenses for a specific period of time
What is a budget?
This is the general increase in prices and decrease in the purchasing power of the dollar.
What is inflation?
FICO scores can range between these two numbers (within 100 points).
What is 300 to 850?
This is known as the value of what you own.
What are assets?
The estimated federal monthly loan payment for the average Virginia Tech student over their 10 year repayment period is approximately this amount of money.
What is $270-280 a month?
This category of expenses can include things such as rent and student loan payments that are consistent from month-to-month
This type of retirement contribution occurs after income taxes have already been taken out of the amount you allocate towards your retirement account
What is Post-Tax contribution (also accept answer of Roth IRA)?
This is the median score according to FICO and the minimum score for most mortgage lenders. (Will give 25 point grace.)
What is 725?
This is the best place to search for additional financial support for college expenses.
What is Scholarship Central (also accept Office of University Scholarships and Financial Aid…and SOAR)?
This happens when you write checks for more money than is in your account.
What is an overdraft?
When you spend more than you can afford using a credit card, this can cost you a lot more money over time on the amount remaining on your card that you have not paid off
What is interest?
Name two long-term investment types.
What are EE savings bonds, certificates of deposit, variable annuities, real estate, stocks, bonds, and mutual funds.
Calculate this by taking the total amount of money and assets you have and subtracting the total amount of money you owe.
What is your Net Worth?
This is the name for the amount of money you earn each year that exceeds the amount people that feel the effects of poverty earn each year, as determined by the government.
What is Discretionary Income?