Category 1
You have $500 in your savings account. Is ths an asset or liability?
What is an asset?
Money you owe to another person or company?
What is a liability?
You own a bicycle worth $200 but owe your parents $50 for it. What is your bicycle's equity?
What is $150?
Name three examples of assets.
What are cash, stocks, and real estate?
You borrow $100 from a friend. What is this debt considered?
What is a liability?
You own a house worth $200,000 and still owe the bank $150,000. How much equity do you have in your home?
What is $50,000?
Something you own that has financial value.
What is an asset?
You owe $800 on your credit card. Is this an asset or liability?
What is a liability?
You own a video game system worth $500 and sell it for $350. How much value did your asset lose?
What is $150 (depreciation)?
A car paid off in full is an example of a what?
What is an asset?
You purchase a car for $15,000 and still owe $12,000. What is the liability?
What is the $12,000 car loan?
You have $200. Your phone bill is $75, groceries cost $80, and a new video game costs $70. Can you afford all three? How much will you have after paying for your needs?
What is no, with $45 remaining?
What is $50,000?
Your home is worth $250,000, and you owe $150,000. How much equity do you have?
What is $100,000?
You earn $500 monthly. Your needs cost $350, and you want gym shoes/sneakers costing $200. How much more money do you need to purchase the gym shoes/sneakers without sacrificing your needs?
What is $50?