What is a fixed expense?
Midterm_Financial Literacy

Flashcard
•
Mathematics
•
12th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
A fixed expense is a cost that does not change from month to month, such as rent or car payments.
2.
FLASHCARD QUESTION
Front
According to the 50/30/20 rule, what percentage of your income should be allocated to savings or debt repayment?
Back
20% of your income should be saved or used to pay off debt according to the 50/30/20 rule.
3.
FLASHCARD QUESTION
Front
What is a 401(k) match?
Back
A 401(k) match is an employer contribution to an employee's 401(k) plan that is based on the employee's own contributions.
4.
FLASHCARD QUESTION
Front
How does a positive credit history affect interest rates?
Back
A positive credit history typically results in lower interest rates on loans and credit.
5.
FLASHCARD QUESTION
Front
What can positively affect your credit history?
Back
Paying bills consistently and on time can positively affect your credit history.
6.
FLASHCARD QUESTION
Front
What is a variable expense?
Back
A variable expense is a cost that can change from month to month, such as groceries or entertainment.
7.
FLASHCARD QUESTION
Front
Define the term 'credit score'.
Back
A credit score is a numerical representation of a person's creditworthiness, based on their credit history.
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