Budgeting & Saving
Share an example of a need and a want.
Needs = Food, shelter, transportation, etc.
Want = Newest video game console, designer clothing, new phone, etc.
In your word, why is it generally a good idea to have a bank account.
True or false, this would be considered a scam/fraud:
Someone claims to love you but requires your money to come visit.
True! This is called a Sweetheart Scam
What is the name of the main character in Minecraft?
Steve
Saving for an apartment would be considered a long-term goal. True or False?
True!
Name two items needed to open an account.
Photo ID (preferably gov. issued), a second form of ID, SSN (if you have one), money, proof of address.
True or false, this would be considered a scam/fraud:
A friend asked for $10 for lunch and forgot to pay you back after a week.
False! Though it might be a good idea to follow up with your friend for the $10.
Who is Spiderman's secret identity?
Peter Parker or Miles Morales
Share one benefit to having an ABLE savings account.
Allows you to save over $2,000 w/o losing benefits, comes with a debit card, money continues to grow over time.
Share two examples of how banks and credit unions are different.
Banks = FDIC Insured, more branches, open to all, for profit, may charge more due to convenience.
Credit Unions = NCUA Insured, must be eligible for membership, not-for-profit, generally have less fees.
True or false, this would be considered a scam/fraud:
You get your oil changed and turns out the brakes also need to be replaced.
False - Be careful though since some mechanics may try to pay for services that you do not need.
Who does the voice of Bowser in the Mario movies?
Jack Black
Share an example of UNEARNED income.
SSI or SSDI benefits, SNAP (food benefits), birthday money, money from mom or dad, etc.
What makes a checking account different than a savings account?
Checking account = spending account, debit card pulls directly from it, low interest, used to cover immediate expenses.
Savings account = used for SAVING, earns interest, sometimes limits on monthly withdrawals.
True or false, this would be considered a scam/fraud:
You receive a phone call from an unknown number that says you won $500. They just need your account info to transfer the money.
True - Never share your account information with someone you do not know.
What does Harry Potter have on his forehead?
A lightening-bolt shaped scar
Specific - What will I achieve, what specific thing will I accomplish, Why is it important.
What is the difference between a debit card and credit card?
Debit cards are attached to your checking account, money comes out at the time of the transaction.
Credit cards are borrowed money. When a purchase is made, money needs to be paid back with interest if not paid off entirely before the agreed upon date.
What should you do if you think your have been a victim of a scam or fraud?
What is the largest planet in our solar system?
Jupiter