Share MONEY & ME TRIVIA-2
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What can causes a non-sufficient fund situation?
Not having enough money in your account to cover a check which you wrote.
What are the usual consequences of non-sufficient funds situation?
Substantial fees, imposed by the bank, and damage to your credit score.
What can be done to avoid non-sufficient funds situation?
Checking your bank balance regularly, and reconciling your checkbook to your bank statement.
What is bank reconciliation in your own words?
A process of making sure that your checkbook balance and your bank balance agree to each other (non necessarily equal).
What factors affect your credit score and credit history?
Paying bills timely, not having large outstanding loans, avoiding non-sufficient funds situations.
Which items must be included in your monthly budget?
Recurring expenses and revenues (happening on a regular basis).
Give some examples of recurring expanses.
Rent, utility bills, mortgage payments, groceries.
Give some examples of recurring revenues.
Paychecks, alimony, social security benefits.
What's the difference between alimony and child support?
Alimony is a support, assigned by a court to one of the spouses to cover his/her living expenses. Child support- to cover children' expenses.
