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Financial Literacy - Goals, Spending Plans & Credit Cards Flashcards | StudBud
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Financial Literacy - Goals, Spending Plans & Credit Cards
Financial Literacy - Goals, Spending Plans & Credit Cards
35 terms
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StudBud Administration
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Based on Take Charge Today Introductory Level resources
Flashcards
35 cards
F
Practice quiz
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Questions
35
Answers
1
The price of money.
penalty APR
due date
credit
interest
2
Have long-term effects on a person's life. Should be made carefully & with much thought.
routine decisions
educational goals
major decisions
financial goals
3
Fee charged when a cardholder does not make the minimum monthly payment by the due date.
late payment fee
Interest
APR
minimum payment
4
Credit card debt in the United States
$880
$880 Million
$880 Billion
$880K
5
The date the minimum payment is due.
Late payment fee
end of the month
Due date
every other week
6
Money earned is...
expenses
net gain
net loss
income
7
Guides individuals to think through all components of making a good major decision.
SMART Goals
Well-being
Decision-Making Process
Values
8
Impacts an individual's or family's well-being.
routine deicisions
decision-making process
financial goals
educational goals
9
Money spent...
expense
net gain
income
spending plan
10
Charged if the amount of money charged goes over the card's credit limit.
Over and under fee
Over the top fee
Over the limit fee
Over the rainbow fee
11
State of being happy, healthy and prosperous.
well-being
values
major decisions
educational goals
12
Paying only the minimum payment due
Don't
Do
13
Helps individuals prepare for success in the workplace.
educational goals
short-term goals
decision making process
major decisions
14
Charging items that can't be paid off within one month
Don't
Do
15
Minimum amount of a credit card bill that must be paid every month.
minimum percentage rate
maximum
minimum payment
minimum penalty
16
Fundamental beliefs about what is desirable, worthwhile and important.
goals
well-being
decision
values
17
Paying the amount charged to a credit card in full every month.
Don't
Do
18
Paying credit card payments on time
Do
Don't
19
A higher interest rate that is charged on a credit card account each month.
Penalty APR
APR
PAR
Rent
20
The end result of something a person intends to accomplish.
well-being
financial goals
goal
decision
21
The maximum dollar amount that can be charged on a credit card.
minimum payment
over-the-limit fee
credit limit
penalty APR
22
Made on a daily basis and don't require a lot of time to think through.
routine decisions
values
financial decisions
decisions
23
Keeping track of all charges by keeping receipts
Do
Don't
24
These are the steps in the decision making process.
Identify alternatives, list problems, Decide & Evaluate
Identify the Goal, List the alternatives, Decide & Evaluate
Identify the problem, List alternatives, Decide, Evaluate
Identify the problem, Roll the dice, Decide & Evaluate
25
Going over the card's credit limit
Do
Don't
26
When there is more income than expenses.
net loss
net gain
expense
goal
27
The interest rate charged on a credit card account each month.
Annual Penalty Rate
Account Percentage Rate
Annual Percentage Rate
Annual Percentage Risk
28
When there are more expenses than income.
Net gain
Net loss
debt
Net nuetral
29
Can be reached in more than one year.
long-term goal
educational goal
short-term goal
financial goal
30
A financial statement individuals can use to assist with money management.
Spending plan
Bank account statement
Credit Card statement
FCS is the best class ever
31
Choice that is made about things that affect a person's life.
goal
wisdom
decision
values
32
When goods, services or money is received with the promise to pay back in the future
credit
due date
interest
credit limit
33
Achieve in a time period of less than one year.
long-term goals
short-term goals
financial goals
SMART goals
34
Checking the monthly credit card statement for errors
Do
Don't
35
What does SMART in SMART Goals stand for?
Super, Major, Awesome, Right, Technical
Specific, Measurable, Attention, Realistic, Time Out
Specific, Measurable, Attainable, Realistic, Time Bound
Specific, Measurable, Attainable, Really Easy, Timebound
