Tips on Budgeting
Name tip for budgeting
Keep your receipts
What is an overdraft?
When your account is overdrawn- do not have enough money to cover a check/payment or purchase
What is budgeting?
Having a spending plan
How has this class impacted you so far?
Any valid answer
What is one of the amazing credit unions here in Elkhart?
INOVA Federal
Name 2 harmful money habits
Smoking, Gambling, Alcoholism,
What is the average overdraft fee?
$35
Name 2 reasons why budgeting is important
Track spending, stability, control, prep for retirement, helps to save, reveals harmful habits,
What is one step you are going to take to increase your financial freedom?
Cut spending, save more, increase income, pay debts faster, budget, learn from my mistakes
If money really grow on trees, what would be everyone’s favorite season?
●
Fall
In budgeting what does SMART stand for?
Specific, measurable, actionable, realistic , in a timely manner.
Why are Credit unions more preferred ?
Non-for-profit, member owned, low fees, higher dividends, member controlled,
Why are people not able to follow a consistent budget?
Poor money habits, lack of motivation,
Name 2 things that can keep you from achieving your financial goals?
Lack of planning, laziness, distractions, bad habits, etc
What do a dollar and the moon have in common?
4 quarters
Name one your SMART goal in the next 6 months
Any valid goal is acceptable
What is the philosophy of the Credit Union movement?
People helping people!
Explain how your spending plan looks like- do you track your spending?
Any reasonable answer
What is financial freedom?
Being in control of your finances day to day
Being on track for your financial goals
Having capacity to absorb any financial shock
Freedom to make choices that allow you enjoy life
Why do little people have a money problem?
Because they’re always a little short
Name several ways of saving and cutting costs?
Use coupons, eat at home, shop for insurance, shop with a list and not hungry, refinance, sign up for rewards, set alerts, monitor your account
Name 2 ways to prevent over drafting your account.
Always check your balance, budget, set up cushion money, set up draw account, apply for a line of credit, etc
What are the 2 main ways of improving your budget ?
Decrease spending and increase income
What is the INOVA special offer for everyone in this class?
$25 cash bonus for youth account - 17yrs and under.
Share a positive clean joke
Any decent one