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Financial Literacy

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  • True or false Can setting up automatic payments save you money?
    True
  • What is the average number of years it takes college graduates to pay off their student loans?
    10 Years
  • What percentage of people in the US live paycheck to paycheck?
    78%
  • What are some deductions that can be taken out of your paycheck?
    Federal taxes, State and local taxes, Retirement, Health benefits
  • What is a credit score?
    A loan and bill payment history
  • What is the average student loan interest rate today?
    5.8%
  • What state has the highest tuition rates for out of state, public universities?
    New Hampshire
  • True or false The type of car you own affects the price you pay for auto insurance?
    True
  • In terms of credit, what does APR stand for?
    Annual Percentage Rate
  • What percentage of four-year graduates have student loan debt?
    70%
  • What's the difference between a credit and debit card?
    When using a debit card money come directly from your checking account, you are billed later when using a credit card.
  • What percentage of your income do experts advise saving for retirement?
    10%
  • What is the difference between gross pay and net pay?
    Gross pay is your pay prior to any deductions Net pay is after deductions
  • What affects the amount of interest that you pay on a loan?
    Your credit rating, how much you borrow and the time it takes for you to repay the loan.
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