Chapter Finances
Credit Cards
Banks
Personal Finance
Games/Activity
100
What must you do in order to stay in good standing regarding finances? -Extra 100 points: What time does HQ like it to be paid by?
You must pay you're bill by the 10th of every month. -5pm
100
What is the difference between a debit card and a credit card?
A debit card is not a credit card. When you use a debit card, the money is deducted from your checking account. With a credit card, you're borrowing money to be repaid later.
100
What is an advantage of using a bank?
Any Answer is acceptable: - Your money is safe from loss,theft, or fire. - Each account is insured up to $250,000 by the FDIC - Keep track of how you spend your money - Proof that you paid a bill - Using check-cashing stores and money orders is more expensive than paying bank fees.
100
What is the 70/30 rule?
70% of your income goes to fund your needs and living expenses. 30% to build your wealth (savings)
100
FREE BE: Go to this website, if you want it isnt required, and set up an account to create your own budget and more
https://www.mint.com Its also an app!! WOOT WOOT
200
If you are on financial bad standing, how do you get off of it?
Pay your bill
200
FREE BE: This website allows you to compare credit cards
www.creditcards.com
200
What are the 2 most common different types of bank accounts?
Savings and Checking
200
Why is a personal budget important?
It helps manage cash and investment in order to meet short term and long term financial needs.
200
Fill out this check: To: Emily Vavro Amount: $4.67
There is no answer on this: See board :)
300
What are you not allowed to do if you are on financial probation?
Not allowed to attend socials, buy resale items, have a voice, or vote.
300
What is the average interest rate for a credit card?
19%-25%
300
What should you look for when comparing bank accounts?
- If the bank account is free - The interest rate - What's the fine print say?
300
What are 4 basic activities of consumers? (us)
Earning- gaining money by working, owning a business, or receiving investment returns. Money gained from earning. Spending- using money to purchase goods and services Saving - putting aside money for later use Borrowing- obtaining money, goods, or services in the present in change for the promise of payment in the future. "Buy now, pay later"
300
Lets watch this cool video that I found on budgeting!
https://studentaidhelp.ed.gov/app/answers/detail/a_id/150/~/prepare-for-college---budgeting
400
When is the budget prepared?
In the Spring for the following school year.
400
Who qualifies for a credit card?
Anyone over the age of 18 can qualify for a credit card, but those who are young and have no income may need a qualified co-signer for the bank to approve the card. Getting approved for a credit card is much easier if the applicant has a steady income, a good credit history, and a small amount of debt.
400
What are the two different types of interest?
Simple Interest: determined by initial deposit only Compound Interest: You earn interest on your initial deposit as well as the interest earned. *Compound Interest is better
400
How much cheaper is it to brew your own coffee than to buy one?
1/8th the price of a latte
400
ON YOUR OWN TIME IF YOU WANT TO: Here is link to a game about finances :)
http://www.finances101thegame.org/f101/
500
Who are the National Fee's set by?
What is National Convention Action.
500
What is the range of a credit score?
Credit scores range anywhere from 300-850. Your credit score is an indicator of how much of a credit risk you are to issuers. The higher the credit score, the better.
500
What happens when a check bounces?
Checks must represent an actual amount of money in the checking account. If a check is written for an amount higher than the available balance and the bank pays that check, then the account holder that wrote that check will face an overdraft fee and potentially legal action.
500
On average, a college graduate earns _______ more in their lifetime than a high school graduate.
$1.2 Million
500
Make you're own piggy bank!
https://www.agentpiggy.com/fun A printable version Other versions: Water bottle, mason jar,
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