Credit
Piece of plastic that allows you to purchase items and pay at a later date
What is a Credit Card?
Provide the definition of Identity Theft
When someone steals your personal information and uses it to pretend to be you —usually to get money or trick others
What is the purpose of insurance?
To protect yourself in case of an emergency
Owning a small part of a company. If the company makes money, this can go up in value—and you might earn money. But if the company loses money, you can also lose money
What is a Stock?
The thought process that determines if a purchase is mandatory or for fun
What is Needs vs. Wants?
Three digit number that represents how you've used credit
What is a Credit Score?
What does it mean to be a good Digital Citizen?
Being smart, safe, and kind when you’re online
The monthly/yearly charge you pay in order to keep your insurance
What is a Premium?
Lending money to a company or the government. They promise to pay you back later with extra money (interest)
What is a Bond?
This document is used to obtain a job and lists your experience, skills, qualifications, and contact information
What is a Resume?
Detailed summary of your credit
What is a Credit Report?
Provide ONE example of personal information
True or False?: A higher premium will provide more coverage
If you don’t want to choose just one company, it’s smart to invest in this because they include lots of different companies
What are Index Funds?
Budgeting strategy that divides your Net Pay into three categories
What is the 50-30-20 Rule?
Provide ONE example of something that is effected by your credit score
Renting an apartment, buying a car, getting a loan, applying for a job, applying for utilities...
Provide an example of ONE common scam
Phishing emails, Fake text messages, "You Won" prize scams, Fake job offers/scholarships
Age, driving record, where you live, type of coverage, gender
This term refers to if the market prices are rising or falling (HINT: Think of two animals)
What is Bear Vs. Bull Market?
This is how long you have to pay your loan back
What is a Loan Term?
Provide ONE factor that determines your credit score (HINT: There's 5 of them)
1. Payment History (35%)
2. Amounts Owed (30%)
3. Length of Credit History (15%)
4. Credit Mix (10%)
5. New Credit (10%)
Provide ONE example of how to spot a scam
Urgent or threatening language, Spelling mistakes, Strange/incorrect email address, Deals that are too good to be true
Provide ONE type of Insurance
Auto, Health, Renters, Life, Business, Travel, Pet
Not putting all of your money in one place
What is Diversification?
A fee charged for borrowing money or a reward earned for saving it
What is Interest?