Wants vs Needs/ and Random
An example of a need
milk, rent, gas etc...
not going out to eat or a video game
Is rent a fixed or variable expense?
Fixed
Give an example of a utility?
Electricity, gas, water
How many months are in a year?
12
An example of a want
Name brand clothes, pizza, going to the movies
Stacey had $362 in her checking account. She wrote a check a check for
$40 and deposited $25. What is her new balance?
$347
What is the difference between fixed expenses and variable expense? Give an example of each!
Fixed expenses are the same every month, variable expenses change. For example, a fixed expense would be rent, a variable expense would be entertainment.
The previous balance on Rita’s credit card is $180. She charges $150. Rita
makes a payment of $40. What is her unpaid balance, not including the
finance charge?
$290
insurance that will pay for damage or loss
caused by fire, smoke, theft, weather
home-owners
Matt took out a personal loan for $1,500 at 13% simple interest. How much
will he have paid in total if he repays the loan in 2 years?
$1890
How can you improve a bad credit score?
.........
Explain the advantages and disadvantages of owning a credit card.
2 for each
...........
the amount of money you must pay for
repairs or injuries before your insurance
company pays
deductible
Jacob is buying a car for $14,500. He gives a 20% down payment. How
much will he borrow?
$11600
Drake can save $25 per month towards a new pair of Nikes. The sneakers cost $175. How many months will he have to save to buy the kicks?
7 months
What is the financial benefit of having a roommate?
Sharing the cost of bills.
Matilda pays $3100 a year for car insurance. She makes monthly payments. What is her fixed monthly expense for car insurance?
$258.33
Three years is equal to ________ months.
36
Sarah wants to buy a new pair of Ugg boots. They cost $550. She wants to purchase them in four months. How much will she have to save each month?
$137.50
Henry's income is $648.50 a month. His fixed expenses are $439.75 a month. How much does he have left for variable expenses?
$208.75
Emma shares an apartment with two other people. The rent is $1325, the utilities average $200 per month. What must Emma pay each month if she shares the cost of rent and utilities evenly with her roommates?
$508.33
How many weeks are in a year?
52