Mo Money Mo Problems
What does a budget track and why?
Money earned, money spent, money saved. Creating a budget allows you to track the flow of money in and out to ensure your needs are met and you can be financially stable.
Is it unhealthy or healthy when someone wants to spend all their time with you and wants you to stop hanging out with your other friends.
UNHEALTHY.
T or F: Staring at your phone and listening to music is a good way to avoid strangers.
FALSE. Criminals look for people who are distracted so don't be an easy target!
What is minimum wage in AB?
$15
T or F: coping mechanisms can be used repeatedly to reduce stress with the same effect.
False. What works one day potentially won't work on another day. Build yourself a coping toolkit.
What is debt?
Debt is money you borrow (known as credit) with the promise to pay it back. When you receive money that you haven’t earned, you usually must pay it back plus interest. Credit is NOT extra income. The average interest rate for credit cards is 20%.
Of all dating violence incidents reported, what percentage occurs to those aged 15 to 24?
45% (correct if within 15%)
an informed, sober and freely given and ONGOING yes is called what?
Consent.
Estimate the average cost of one year of post-secondary education?
U of A $10 000 per year ($6500 tuition + $3500 books, fees, supplies)
Cost of living in residence with food $15 000 per year
TOTAL: $25 000
NAIT $8940 per year ($5500 Tuition + $2600 books, fees, supplies + $350 transit pass + recreation/ leisure fee $230)
Cost of living off-campus $11 800 per year
TOTAL: $20 740
Who experiences mental health?
EVERYONE
Credit score, huh?
Credit score is a three-digit number that comes from your credit report. Credit report is a point system that increases with responsible financial habits and decreases with irresponsible finances such as missed or late payments on a credit card or loan. Good credit is important because creditors (banks, car dealerships, etc.) use it to determine your eligibility for credit needed to purchase things you want (house, car). If your credit is poor, they might loan you the money but at an exorbitant interest rate.
An example of direct peer pressure.
being told to do something. Example of Indirect peer pressure for extra 100 points.
What would be a reason that you could NOT keep your friends secret?
worried about theirs or someone else's safety.
Estimate the average rent in Edmonton?
A two-bedroom apartment in Edmonton costs $1274.
4 positive ways of dealing with stress.
music, animals, friends, exercise, outdoors, deep breathing, muscle relaxation, meditation, getting creative, baths etc.
What is the best way for a young person to build their credit?
Using a secured credit card is a great way to establish credit. It works like a real credit card, but the limit is based on a pre-paid amount given as an initial deposit.
Name 2 ways to deal with peer pressure.
STOP method
Say no firmly
Tell why
Offer ideas
Promptly leave
What is a digital footprint and how can you ensure online safety?
Is it information about an individual that exists on the internet as a result of their online activity. Everything you post creates a digital of which cannot always be erased.
Privacy settings isn't a good enough way to ensure online safety. Be mindful of what you post and say, pretending as though it could (and likely will) be read by anyone. Employers will also look at social media to find out about potential hires.
What is the difference between gross and net income?
Gross income is the amount of money earned before deductions (federal and provincial tax, benefits, and other deductions).
Net income is the amount remaining after all deductions.
In Alberta, the average amount of tax taken from each pay period is 25 – 48% combined federal and provincial taxes – one of the highest in the country.
3 negative affects of stress.
fast heartbeat
dysfunctional sleep
changes in your behavior
changes in your relationships
becoming withdrawn
physical symptoms (stomach ache, headache, fatigue, weight gain or weight loss)
What is the 50/30/20 rule?
Income should be divided as follows: 50% on needs, 30% on other spending (wants), 20% on savings.
Following the 50/30/20 rule is a great way to help budget!
Name 3 types of dating violence.
physical, emotional, verbal and sexual.
List 3 ways to ensure safety when meeting someone new.
Tell someone where you are going
meet in a public, well-lit space
turn GPS on your phone
don't get into a strangers car
Why the heck do we need to pay for insurance?
When you pay for insurance, it protects yourself, your family, and your belongings from risk/ loss. Insurance ‘premiums’ are typically paid monthly. If you make a ‘claim’ the insurance company will repair or replace the damaged property for the cost of our ‘premium’.
What is the Fight vs. Flight response?
an automatic physiological reaction to an event that is perceived as stressful or frightening. The fight or flight process takes about 20 minutes.
increased heart rate, rapid breathing, inability to focus etc.