Financial Literacy
What is the difference between a debit and credit card?
A credit card is when you borrow money from the bank and a debit card is when the money comes directly out of your bank account when used.
What is an entrepreneur?
A person who starts their own business.
What is a Career Cluster?
A group of similar careers.
What is something you must have to live called?
Need
What is one way advertisements try to influence your spending?
Emotions, trends, peer pressure, “limited time” offers
A spending plan so you do not over spend your money.
Budget
What is the difference between a small and large business?
A small business is typically family owned, may have a few locations. A large business is a major corporation where they are typically found in multiple, states to countries.
What is a trade school?
A trade school is a place you go after high school to learn a specific job by doing hands-on work, like fixing cars, welding, or becoming a chef. Instead of 4 years of college classes, you finish in 1–2 years, learning only the skills needed for that job, leading to a certificate.
What is something you would like but don’t need called?
A want
What do we call a plan that explains how a business will run?
Business plan
Name 2 reasons why it is important to have a good credit score.
To increase credit limit, to take out a loan, for renting, buying a house, or employment.
Name 3 Advertising Techniques that we learned in class
Celebrity Endorsement
Bandwagon
Sales Incentive
Facts & Figures
Expert Opinion
Rhetorical Question
Name 3 types of college degrees.
Associate Degree,
Bachelor's Degree
Masters Degree
Doctoral Degree
Why is it risky to spend all your money and save none?
No money for emergencies or future goals
What is money you earn called?
Income
What is interest?
A fee on borrowed money.
What is the difference between a logo and a slogan?
A logo is an image or a graphic to represent a brand and a slogan is a catch phrase for a business.
What do we call a job you do without being paid to gain experience?
Internship (or volunteer work depending on context)
ou buy something with a credit card but don’t pay it off right away. What might happen?
You are charged interest / go into debt
You love working with your hands and don’t want a 4-year college. What is one good career pathway?
Trade school
What is gross pay?
What do you call the group of people a business is trying to sell to?
Target audience
What is a job you do for a long time called?
Career
You start earning money from babysitting. What are two smart ways to manage it?
Budgeting, saving, setting goals, not spending all of it
What is one risk of starting your own business?
losing money, failure, uncertainty