Counting Coins
How many cents is a quarter worth?
$0.25
How many dollar bills are in $20?
20
What is income?
Money you get for working a job
There are needs and there are wants. What is a need?
Something you cannot live without
What is cash?
Coins and bills
What does one quarter plus one dime equal?
$0.35
What is $5 + $5?
$10
What are expenses?
Things you need to pay for (ex.- rent/mortgage, utilities, food)
There are needs and there are wants. What is a want?
Something you can live without, but would like to have
How many quarters are in $1?
Four
How many $20 bills does it take to make $100?
5
What is a budget and why is it important?
A budget is a plan for how to spend your money. It helps you stay on track and not spend more money than you have.
What does it mean when something is on sale?
The item costs less than normal
What is interest?
Interest is money that accumulates. You can earn interest by keeping your money in a bank (free money!). You can owe interest by taking out a loan (you have to pay back the loan + the interest).
How many dimes are in $1?
10
True or false: There is a $2 bill.
True
How often should you file income taxes?
A) Annually
B) Every six months
C) Every three months
D) Whenever you feel like it
A) Annually
What is comparison shopping?
What is a check?
A piece of paper that promises you have a specific amount of money in your bank account that will be transferred when someone cashes it.
Whose face is on the penny?
Abraham Lincoln
Whose face is on the dollar bill?
George Washington
What does it mean to be an entrepreneur?
You are someone who creates your own business.
What is impulse buying?
Buying something (that is often a want, not a need) right away instead of saving for it or thinking how it will affect your budget
What is the difference between a credit card and debit card?
A credit card lets you use money you don't have right now, but you pay back each month when you get paid.
A debit card takes money you have out of your bank account right away.