Personal Finance Unit, Part 1

All of the following are potential costs when renting an apartment EXCEPT...

• Security deposit

• Electricity

• Water

• Mortgage

A debit card is used to pay for something by drawing money from...

• Your savings account

• Your checking account

• Your certificate of deposit

• Your piggy bank

You can increase your credit score by doing all of the following EXCEPT...

• Paying your fill bill on time each month

• Maxing out your credit card

• Paying off your student loans every month

• Keeping your credit card spending well below your credit limit

Certificates of deposit...

• Give you no penalty if you need to take your money out in a hurry

• Allow you to invest your money for a certain amount of time with profits depending on economic conditions

• Allow you to invest your money for a fixed amount of time with a guaranteed interest rate

• Give you a certificate letting you know you deposited your money in the bank

A difference between a traditional and high yield savings account is...

• Traditional savings accounts are only online, while high yield accounts have in-person banks

• Traditional savings accounts earn you much more interest

• High yield savings accounts don't generate very much interest

• High yield savings accounts are only online, while traditional accounts have in-person banks

When searching for a job, you may need all of the following EXCEPT...

• High school grades

• Resume

• Cover Letter

• References

The 50/30/20 rule suggests you should...

• Spend 50% of your money on needs, 30% on savings, 20% on wants

• Spend 50% of your money on needs, 30% on wants, 20% on savings

• Spend 50% of your money on wants, 30% on savings, 20% on needs

• Spend 50% of your money on savings, 30% on needs, 20% on wants

The first rule of saving is...

• Put everything you save in your checking account

• Don't worry about saving until you are 40

• Save every dollar you earn

• Spend less than what you earn each month

A credit union is different from a traditional bank because...

• It is smaller, more local, and personalized

• It gives you lower interest rates

• A credit union account comes with a credit card

• It always has a really good mobile app

All of the following are apps you can use to budget EXCEPT...

• Wally

• Fudget

• Trulia

• Mint