Money Values
How many toonies make 16 dollars?
8
Explain in simple terms what debit means
It means having + earning money, increases your total budget.
Explain what credit means
It means spending and/or borrowing money, puts a decrease on your total budget.
What is the percentage of sales tax in Ontario?
13%
Why is budgeting so important?
So you know how much money you can spend and what to spend it on. It helps with making responsible financial decisions by not going over the budget. Going over the budget means you have to borrow money and it adds to debt.
What is the total value of 5 loonies, 6 toonies, and 9 quarters?
$19.25
You get an allowance of $30 every week. How much do you have in 5 weeks?
$150
You didn't get allowance for 2 weeks because you got grounded. How much money did you miss out on?
$60
Calculate the tax of a sweater worth $19.99
$2.60
How much money would you spend on food each day with your 30 dollar allowance?
Anything works as long as they stay within the budget.
The cashier owes be $6.55 of change. How would you divide this up using only toonies, loonies, quarters, dimes, and nickles?
Any correct combination with all the variables is the answer
You do not spend your allowance of $30 for 4 weeks, how much money have you saved?
$120
What is the downside to getting a credit card?
They have really high interest rates. Meaning, when you do not pay back the full amount spent, you have to pay extra for borrowing that money. This increases the money owed.
You decide to get jeans worth $22 with the sweater. What is the total price, including tax?
$47.45
You have $300.80 saved on your grocery budget and you spend $250.15 on groceries. How much do you have remaining?
$50.65
You have a hundred dollar bill but you want to divide it up using $20's and $10's. What are the three combinations that you can use?
2 $10s and 4 $20s
6 $10s and 2 $20s
4 $10 and 3 $20s
You have $130 dollars saved up and grandma gives you $35 dollars on your birthday and your cheap, not so funny uncle gives you 15 quarters. How much do you have saved now?
$168.75
You really badly want the limited shoes that cost $200 but you only have $110 saved. How much money you have to burrow and how many days do you not get allowance?
Have to borrow $90 = 21 days without allowance
Name 3 basic food items that are not taxable
List includes any of the following:
Fresh meat, fresh vegetables, frozen meat/vegetables, breakfast cereals, most milk products (milk, cheese), poultry and fish, eggs, and coffee beans.
What happens when you forget to include the tax price while you are doing your budgeting?
Your budget will fall short and you will not have enough money left because you forgot to include taxes. Always include the tax on your budget.
Estimate how many quarters you need to make $10.50
42
You have $40 saved but you do not want to spend it until you have $220. How many weeks do you have to wait with your $30 weekly allowance?
6 Weeks
You borrowed $10 dollars from one friend, $5 dollars from another friend, and $20 dollars from your older sibling. How many days to you have to wait to pay them back?
8 days
You bought $100 worth of groceries but forgot to buy toilet paper. You go to get 2 stocks worth $15 each, tax not included. How much did you end up spending in total?
$15 + $15 + $3.9 = $33.9
$100 + $33.9 = $133.9
Make a sample budget. Budget total is $250. Anything can be included on your shopping list.
The group to finish first wins the point.