Saving Money
What is one way you can save money?
- Reduce spending (don't spend as much)
- Shop smarter (buy cheaper items)
- Start a "side hustle" (get another job)
I have $10 in cash. I want to buy a coffee at Dutch Bros that costs $6.34. Do I have enough money for that?
Yes!
($10 minus $6.34 = $3.66. I could pay for the coffee and have $3.66 left over.)
What is one way you can keep track of the money you spend?
- Check your bank account regularly
- Write it down in a notebook
- Use a budgeting app
- Use a spreadsheet
What can get stolen?
A. Your credit card
B. Your debit card
C. Your cash
D. All of the above
D. All of the above!
How can you manage your money in the bank?
A) You can ONLY manage it AT the physical bank building.
B) You can ONLY manage it online
C) You can do both online or at the bank.
C) You can do both online or at the bank!
What does it mean to split the bill?
More than one person pays for things. Everyone pays a share.
What is one "side-hustle" skill you can gain to make some extra money?
- Tutoring
- Pet sitting
- Driving
- Yardword
- Photography
- Graphic design
- Writing
- Coding
No! I would need $20 more to have enough ($40).
What could you suggest instead?
What does it mean to BUDGET your money?
A) Save your money
B) Spend your money
C) Make a plan about what you are going to do with your money.
C) Make a plan about what you are going to do with your money.
Which one would be best to use for spending money on a vacation?
A. Debit card
B. Credit card
C. Pre-Paid debit card
C) Prepaid debit!
Because you can limit your spending, and it is not linked to your bank account, so it's not as bad if it gets stolen!
Name one popular bank.
- ENT Çredit Union
- USAA
- Discover
- Wells Fargo
- Chase
- Bank of the West
- Any others
How tell a server at a restaurant that you are ready to pay?
Remember to tell them how you want it separated out!
What is one DIY (Do-It-Yourself) skill you can learn so you don't have to as spend as much money?
- Sewing
- Cutting hair
- Sewing
- Gardening
- Crafting
- Upcycling
-Furniture flipping
I have $10 in cash to buy a movie ticket. The movie ticket costs $10.15. Do I have enough money for that?
Almost, but NO!
($10 minus $10.15 = negative 15 cents. You would need $0.15 more to buy your movie ticket. What could you do instead?)
What does income mean? It is the money that you ____.
MAKE.
Income is the money you make from a job, allowance, or a gift.
Debit. When you use a debit card, you are spending real money that you actually have in the bank.
When you use a credit card, you are borrowing money from your card company, and then you have to use real money to PAY IT BACK.
What will the bank do if you don't pay back your credit card debt?
A) They will come to your house and steal all your stuff
B) They will charge you interest (even more money!)
C) They will throw pie in your face
They will charge you interest (even more money!)
You are out to eat with 2 friends.
Your friend Rex ordered 5 different meals totaling $100.
You only ordered 1 drink, totaling $8.
Your friend Sally ordered 1 meal, totaling $20.
To be FAIR, how should you split the bill?
A) Split it 3 ways. Everyone splits the total, everyone pays $42.
B) Get separate checks. You each pay for what YOU ordered.
B) Get separate checks. You each pay for what YOU ordered.
That way you aren't paying $42 when you only bought an $8 drink!
What is one home-maintenance skill that you can learn to do yourself, so that you don't have to spend as much money?
- Cleaning
- Painting
- Appliance installation and repair
- Plumbing
- Auto (car) maintenance
I have $2,000 in my bank account. I want to buy a car that costs $10,000. Do I have enough money for that?
NO!
($2,000 minus $10,000 = negative $8,000. I would need $8,000 more to buy the car. What could I do instead?)
What does "expense" mean? An expense is the money you ____ to spend.
NEED.
An expense is the money you NEED to spend. Like on bills and groceries and hygiene.
Which card offers rewards programs?
A) Debit Card
B) Credit Card
C) Cash
B) Credit Card
Rewards programs are like this: Anything you spend on groceries, you will get 5% cash back! For example
What does the bank do with your money while it is in the bank?
A) They don't touch it
B) They use it for other things and then give it back to you when you need it.
B) They use it for other things and then give it back to you when you need it.
You are out to drinks with 2 friends.
Your friend Sam ordered 1 drink that costed $6.
You ordered 1 drink that costed $9
Your friend Beth ordered 1 drink that costed $7.
What is the easiest and most courteous way to split the bill since you all got ALMOST the same amount?
A) Split it 3 ways. Everyone splits the total, everyone pays $7.33
B) Get separate checks. You each pay for what YOU ordered.
A) Split it 3 ways. Everyone splits the total, everyone pays $7.33
Although Sam's was $6, yours was $9, and Beth's was $7, six, seven, and nine are very close to the same amount.
If you got a $1,000 paycheck, and you spent HALF of it, how much money would you have left to save?
$500.
($1,000 divided by 2 (in half) is $500)
I have $300 on my card. I want to buy a TV for $200. Do I have enough money for that?
Yes!
($300 minus $200 = $100. I could buy the TV and then have $100 left over still.)
What does "spending money" mean? Spending Money is the money you have _____ over to spend on things you WANT.
LEFT.
Spending money is the money you have LEFT over to spend on things you want.
What does it mean if you try to pay for something and your card gets "Declined"?
It means that there is not enough money on your card :(
A) Banks
B) Money sharing/sending apps
If someone doesn't have cash for the Pizza party and you agree to let them Venmo you for their share, what should you think about before saying OK to that?
- If you trust that they are actually going to pay you back.
- If you actually HAVE enough money to cover for them until they pay you back.