EYED Financial Literacy

If your credit score is high, what happens to your loan interest rate?

. What is the main goal of budgeting?

Which tool helps you build credit by adding utility payments to your credit file?

 What is a zero-sum budget?

What is a secured credit card?

 What should you avoid to protect your credit from scams?

What is the recommended credit utilization ratio?

 Why should you pay your full credit card balance every month?

What happens if you miss a credit card payment?

. What is a credit builder loan?

Name one popular budgeting rule that divides income into needs, wants, and savings.

 Why is it important to pay yourself first?

 Why should you review and adjust your budget regularly?

 How much should you ideally save in an emergency fund?

 What does the 50/30/20 budgeting rule stand for?

What does a budget help you control?

. What is credit?

What percentage of your credit score is based on payment history?

What is interest in investing?

 What is interest in borrowing?

 What does S.M.A.R.T stand for in goal setting?