Spending Guidelines
What minimum percentage of your income should you set aside for housing?
What is 30%
What do they call a plan for income and expenses?
What is a budget
What type of account can earn you interest at a bank?
What is savings
When using an ATM, you should cover this with your hand so other people cannot see it.
What is your PIN
You have $50 of birthday money you'd like to add to your savings account.
What is... "I'd like to make a deposit of $50 into my saving account please."
How much should you set aside for transportation?
What is 11%
What is an expense?
What is the cost required for something
What is banks are for-profit and credit unions are owned by members and not-for-profit.
Before entering your password on a banking website, make sure you are on the bank's real website and not a scam or phishing website. What is the best way to ensure you are on the correct website?
What is type in the URL in the address bar
You check your account balance and notice it's $30 less than you expected.
What is... "Can you help me understand this charge on my account?"
20% of your income is used for what?
What is food/groceries
When you borrow money from a bank/lender and you agree to pay it back (usually with fees and/or interest), you have or owe...
What is debt
What is a deposit?
What is money in. Adding cash, checks, or electronic transfers. This can include gifts, income, earned interest, etc.,
If someone you do not know sends you a message asking for your banking password or PIN, you should do this instead of replying.
What is ignore, delete, or report the message
You need $20 in cash, but only have a $100 bill.
What is... "Could you please break this $100? I'd like smaller bills."
You should aim to save a minimum of what percentage of your income?
What is 10%
What is income?
What is money earned or received
What is a withdrawl?
What is money out. Removing money from your account or debiting funds for a purchase, debt, bill or monthly payment.
Money transfer apps can send money quickly, but you should only send money to people you know and trust because transfers are often difficult to do this.
What is reverse or cancel
You lost your debit card and need to let the bank/credit union know right away.
What is... "I need to report my debit card lost. Can you please put a freeze on it and order a replacement?"
You should spend no more than 12% of your income on what?
What is gifts and entertainment
What is the difference between gross income and net income?
What is gross is the most, net is what you get. Gross is total earnings before deductions, net is the actual amount you take home.
Name 3 things you would need to open an account.
What is photo identification, personal information, proof of address, opening deposit
One advantage of visiting a bank branch in person is that you can verify you are speaking directly with this type of trained employee about your account.
What is a bank teller
You've been saving up and want to move $75 from your checking account into your savings account.
What is... "I'd like to transfer $75 from my checking into my savings account, please."