The money you have left after you've paid your income tax is called....

• disposable income

• discretionary income

• mutual funds

• portable income

What is the opportunity cost of getting a mortgage compared renting a home?

• interest payments

• security deposit

• unreasonable landlords

• insurance

About how much of your income should you use for housing?

• No more than 50%

• No more than 40%

• No more than 30%

• No more than 20%

What is NOT a benefit of saving your money at a bank?

• It is safer.

• You earn a small % of interest

• You're less likely to use it.

• You're more likely to spend it.

What does the bank do with peoples' deposits?

• They keep it in a safety deposit box.

• They keep it in a vault with the depositor's name on it.

• They loan it out.

• They send it to Washington D.C.

Which of the following does not factor into determining a person's credit score?

• credit history

• capacity to pay back the loan

• social media presence

• collateral

What are the two ways someone earns money from investing in stock?

• dividends and capital gains

• capital gains and interest

• dividends and interest

• taxes and interest

You are lending money to a company or the government when you invest in....

• stocks

• certificates of deposit (CDs)

• corn

• bonds

Check all of the bank accounts that pay interest.

• savings

• money market

• checking

• certificate of deposit

What is an interest rate?

• it is your level of interest about a certain topic expressed as a percentage of your total interest

• The amount in terms of dollars that you have to pay back on a purchase

• it is the rate at which your interest in something expires. The higher the number, the quicker your interest expires

• The amount in terms of a rate or percentage that you have to pay back on an amount borrowed