| Types of Credit | Credit Score | Spending Habits | Debt | Nothing |
|---|---|---|---|---|
|
What is a Car Loan
A loan borrowed to pay off a car
|
What is 30% or lower
A Good Credit Utilization Rate
|
What is debt
Poor money management can lead to...
|
What is a Budget
An estimate of income and expenses for a set period of time
|
|
|
What is Business Loan
A loan borrowed to develop a business
|
What is 850
The Maximum Credit Score
|
What is when you understand finances
The age you should keep track of your spending habits
|
What is an Emergency Fund
A bank account that sets money aside for emergencies
|
|
|
What is a pay day loan
A short term cash loan that is paid the next time the borrower gets paid
|
What is a Thin File
When you don't have enough credit history for a credit score to be produced
|
Yes
Should you collect information on your spending habits?
|
What is the Debt Avalanche Method
Strategy that involves paying off the debt with the highest interest rates
|
|
|
What is a Personal Loan
A loan borrowed for personal reasons
|
What is 7 years
The amount of time that information stays on your credit report
|
What is good financial resources
Should you have good or bad financial resources when you borrow money?
|
What is The Debt Snowball Method
Strategy that involved paying off the debt with the least amount of money first
|
|
|
What is a mortgage
A loan borrowed to pay off a house
|
What is Equifax, TransUnion, and Experian
The three main nationwide credit bureaus
|
What is 50-30-20
_% for needs _% on savings and _% to wants build good spending habits
|
What is retirement/65
The age you should be debt free
|
|
Support Us on Ko-fi