Money Matters
What is a budget?
A plan for how you will earn, spend, and save your money.
When you use a credit card to buy something, are you spending your own money or borrowing money?
Borrowing money
What should you always do before beginning a cooking lab?
Wash your hands
What kitchen appliance did we use during our smoothie lab?
Blender
Would you rather use a debit card or a credit card if you only want to spend money you already have in your bank account?
Debit card
What is the name of the project where you had to choose a career, find a place to live, and manage your expenses?
The Juggling Act Project
What is the name of the money taken out of your paycheck to help fund government services?
Taxes
What should you use to remove a hot baking sheet from the oven?
Oven mitts
What type of cake mix did we use to make our cookies?
Funfetti cake mix
Would you rather store leftover food in the refrigerator or leave it on the counter overnight?
Refrigerator
What is the difference between gross income and net income?
Gross income is your pay before taxes and deductions. Net income is your take-home pay.
What is the extra money you may have to pay when you don't pay off your credit card balance in full?
Interest
Why should you never leave food cooking on the stove unattended?
It could burn or start a fire.
What two ingredients did we add to our Funfetti cake mix to turn it into cookie dough?
Eggs and oil
Would you rather compare prices at different stores or buy the first item you see when shopping on a budget?
Compare prices
If you earn $2,000 per month and spend $1,500, how much money do you have left?
$500
What is the purpose of insurance?
To help protect you financially from unexpected expenses or losses.
What is the difference between simmering and boiling?
Simmering uses gentle, small bubbles, while boiling has large, rapidly rising bubbles.
What type of cheese did we use to make our homemade Alfredo sauce?
Parmesan cheese
Would you rather pay only the minimum payment on your credit card or pay the full statement balance by the due date to avoid interest?
Pay the full statement balance
Why might renting a home be a better financial decision than buying one for someone who is just starting their career?
Renting usually requires less money upfront and offers more flexibility to move.
What is one way using a credit card irresponsibly could affect your ability to rent an apartment or get a loan in the future?
It could damage your credit score, making it harder to get approved.
Why should you avoid overcrowding a pan when cooking food?
The food may cook unevenly instead of browning properly.
Why did we add the milk a little at a time while whisking our Alfredo sauce?
To prevent lumps and create a smooth sauce.
Would you rather choose a job based on its gross salary or its take-home pay after taxes and deductions when planning your monthly budget?
Take-home pay (net income), because that's the money you actually have available to spend.