Personal Finance 1
Planning how income is used
What is a budget?
APR stands for this
What is Annual Percentage Rate?
Safest place to store money
What is a savings account?
Putting money into assets like stocks to grow wealth over time
What is investing?
A general increase in prices over time
What is inflation?
Income after taxes
What is net income?
Determines loan approval and rates
What is a credit score?
Recommended emergency savings length
What is 3-6 months?
Spreading money across different investments to reduce risk
What is diversification?
The amount of goods and services money can buy
What is purchasing power?
Best use of leftover money
What is saving or investing?
Hurts your credit score most
What is a missing payment?
Unexpected car repair money
What is an emergency fund?
Earning money on both your original investment and past earnings
What is compound interest?
An expense that stays the same each month
What is a fixed expense?
Ross
What is Walls's middle name?
Build credit by doing this regularly
What is paying bills on time?
A card that you shouldn't use
What is a debit card?
This type of investment is known for higher risk but also higher potential return
What are stocks?
An expense that can change from month to month
What is a variable expense?
Waiting to afford something instead of buying now
What is saving up?
Lower APR means this
What is a lower borrowing cost?
140-89
What is 2026 1st-round Knicks-Hawks Game 6 final score?
The chance that an investment could lose value
What is risk?
When prices rise faster than wages, this happens to consumers' money
What is a decrease in purchasing power?