3/19- Flashcardizz- Financial Literacy

Front

Which of the following is a reason to establish a good credit score?
It helps you get a loan.
It helps you get better interest rates on loans.
It helps the borrower determine if a loan will be approved.

Back

All of the above.

Front

What does it mean when your employer matches your 401k contributions?

Back

your employer contributes money as well up to a certain amount

Front

IRA's are

Back

Individual Retirement Accounts.

Front

A 401k plan is a(n)

Back

retirement plan

Front

The cost of borrowing money is referred to as

Back

Interest

Front

The amount you must pay on a credit card, based on a percentage of the outstanding balance.

Back

minimum payment

Front

To build a good credit history, you should: open as much credit as possible quickly, use the maximum credit allowed on all your credit cards, pay on time and as much of your balance as possible, all of these

Back

pay on time and as much of your balance as possible

Front

Money that you owe for things like utilities (water, heat, electricity, etc.) and debt

Back

bills

Front

A plan for how much you want to spend in different areas based on how much money you make.

Back

budget

Front

When you put money into one of your accounts at a bank or credit union.

Back

deposit