Investment /Financial risk/
what are things that you can do for investment?
Stocks, Saving accounts, Real Estate, Funds
Is Saving important?
Yes, it's important because it gives you a safety net for unexpected events, helps you avoid high-interest debt, and lets you reach your personal goal.
What is credit score?
A credit score is a 3-digit number from 300 to 850 that shows how well you handle money. It tells banks and lenders if you are safe to lend money to based on your past bills.
What is Tax?
A tax is a mandatory payment or financial charge collected by local, state, and national governments from individuals and businesses to fund public services like roads, schools, and emergency care.
If you have an MBTI started with "E". It means you are....?
Extroverted
Where did we visited for PBL trip?
The Federal Reserve Bank of New York
What age is considered as retirement age?
Answer: 60-65
What is credit & debit?
Debit: A debit card lets you pay using money you already have in your bank account.
Credit: A credit card lets you borrow money to pay now and repay it later.
What happen if you don't pay tax?
If you do not pay your taxes, you face specific financial and legal consequences including growing fees, property liens, asset seizures, and potential criminal charges.
What's the different between a salary job vs commission job?
A salaried job provides a fixed, guaranteed yearly pay regardless of sales performance, whereas a commission job pays a percentage or portion of goods and services sold, meaning income rises or falls based directly on individual sales results
The Federal Reserve Bank of New York is here for....
(If you played the scavenger hunt.....)
The Healthy Economy
What is the average spending for american household in a month?
A: around $2500
B: around $3500
C: around $4500
D: around $5500
E: around $6500
The correct answer is E.
The average American household spends about $6,545 per month, which adds up to $78,535 per year.
What happen if you didn't payoff your credit card on time?
You will receive interest rate and late fee.
What is the local sales tax in New York?
A: 10.975%
B: 8.875%
C: 6.5%
D: 7.75%
The Correct answer is B - 8.875%
what is S and T stand for in MBTI
S = Sense
T = Thinking
What's the schedule for the standard stock market opens? ( include the day & time)
9AM to 4PM Monday to Friday.
What is the average savings account interest rate?
A: 3.80% to 4.25%
B: 6.8%- 8.9%
C: 10.5% - 12.8%
A: 3.80% to 4.25%
High-yield savings accounts currently offer average rates between 3.80% and 4.25% APY, with some top accounts reaching up to 5.00% APY.
Name three things that will effect your credit score
Missing payment, length of credit history, owe/ borrow moeny
When is Tax Season?
A: Jan - April
B: June - Aug
C: Oct - Dec
The correct answer is A. Tax season starts in January and runs through April.
If you wanted to be an artist or designer which MBTI would be the best fit?
INFP, INTJ and ISFP
Because they are quiet, sensitive, kind, and deeply focused on sensory beauty.
Name at least 3 holiday will be the stock market being closed?
By the standard rule of thumb how many percent you should save from you paycheck?
A: 50%
B: 40%
C: 30%
D: 20%
A standard rule of thumb is to save 20% of your after-tax paycheck, following the popular 50-30-20 budgeting strategy. Under this plan, you split your money into 50% for needs, 30% for wants, and 20% for savings.
Is Credit consider as loan?
Yes or No & Why
Yes, a credit card functions as a revolving loan
What specific items you can get without paying any tax?
Groceries & Prescription Medications
- Basic food items intended for home preparation
- Most states entirely exempt FDA-approved prescription drugs
Name 3 jobs that's commission base
real estate agents, insurance agents, and Sales consultants, Broker