Vocabulary
Money you earn from working or a job.
What is income or savings?
How long is a short term goal supposed to be?
a) 1 day - year
b) 1-4 years
c) 4 + years
What is the purpose of a financial institute?
a) To keep your money safe
b) To make lots of money
c) So you can take out money
d) help you buy ice-cream
What does "SIN" stand for?
a) socially independent now
b) so insane for Netflix
c) social insurance number
d) social investment number
a) Money saved in case some unexpected expense happens
b) A plan for if there is a fire
c) A fund for cookies
d) a fund for things you really want
Ways to try to make your money grow?
What is investment or income?
What is an example of a good long term goal?
a) buying shoes
b) buying a house
c) graduating high school
d) buying a birthday cake
What is one thing the bank of Canada does?
a) Help you understand finances
b) designs and distributes bank notes
c) Deals in investigating fake money
d) Does not set the prime interest rate
True or False: It is ok to let a friend use your SIN to get a job?
FALSE - do not let anyone use your SIN
True or False: Saving money helps lower financial stress?
TRUE!
A trick that tries to steal your money?
What is financial scam or Financial Plan?
a) Money you owe
b) bills
c) money for the future
d) a type of scam
What is a credit union?
a) federally owned bank
b) big bank owned by the government
c) smaller provincially owned bank
d) banks owned by famous people
What do you call someone who works for themselves instead of working for a company?
a) entrepreneur
b) wage worker
c) Turkey Lurkey
d) independent contestant
What is a good amount of money to have in your savings account as a starting point
a) 100
b) 1000
c) 8000
d) 25
Borrowing money and paying it back later?
Which Credit or Expenses?
Why is making a budget helpful?
a) It helps you plan for the future
b) so you know what to make for dinner
c) helps you know how much you owe
d) both a and c
Why do people buy insurance?
a) to protect their investments and things they own
b) to look cool
c) to make sure they can buy things
d) to ensure they have money
What does RRSP stand for?
a) Registered Regina Safety Plan
b) Regina Ranger Safety Program
c) Registered Retirement Sassy Person
d) Registered Retirement Savings Plan
When is the best time to start saving for your retirement?
a) when you are 30
b) when you are 25
c) As soon as you start working
d) never, I want to work FOREVER
A service that helps protect you if something bad happens?
What is Insurance or Banking?
What is one danger of using a credit card?
a) you will be so rich people will want you to buy everything
b) You can enjoy all the nice things carefree
c) you can buy more than you have saved and get into debt
d) You buy so many nice clothes and are very fashionable
What are the three main types of financial institutions?
a) Banking, insurance, investment
b) banking, loans, scams
c) insurance, investment, withdrawals
d) Banking, insurance, interest
In your own words, what does financial independence mean?
Having enough income to live comfortably without relying on others.
What is the 50/30/20 budget rule?
a) 50% on savings, 30 % on needs, 20% on wants
b) 50% to government, 30% on wants, 20% on cookies
c) 50% on needs, 30% on wants, 20% on savings
d) 50% on vacations, 30% on needs, 20% on gifts for Ms. Halbert