Quick Maths
If you have $20 and you spend $2 on bread and $3 on milk, how much change do you have left?
$15
True or False
Spending $300 a week on takeaway is an example of a good saving habit.
False
Income
Money that you receive on a regular basis for the work that you do. (similar answers are acceptable)
True or False
Financial goals are something that you want to achieve in the future
True
This person is responsible for processing and receiving payments usually at a register.
Cashier
What is 1/4 of 80
Name 2 types of identification that you can use to open a savings account at the bank.
Passport, Drivers license, Proof of age card, Medicare card or Birth certificate
Loan
Something that is borrowed.
e.g. money from a bank
(similar answers are acceptable)
Name an example of a short term financial goal
Anything that would take under a year to save for e.g. phone, tv, gaming console etc.
This person provides account services to customers by receiving deposits and loan payments, cashing checks and issuing withdrawals
Banker / Bank Teller
If you earn $100 after working 5 hours, how much did you earn per hour?
$20/hour
Which of the following should you put your money toward first?
(a) Debt (b) Emergency savings
(c) Retirement (d) Long term savings goals
a) Debt
Bank
A financial institution that accepts deposits and withdrawals of money
(similar answers are acceptable)
Name two examples of long term financial goals
Anything that would take a long period of time (over 3 years) to save for e.g House, car, starting a business etc.
A person whose job is to provide financial advice to clients.
Financial Advisor
$40
20% of $50 is $10
$50 - $10 = $40
What is the difference between a fixed expense and a variable expense
Fixed expenses are costs that remain constant such as rent or bills
Variable expenses are costs that change or are unpredictable such as eating out or car repairs
Spending Habit
Repeated and sometimes involuntary routine people have around spending money to purchase things.
(similar answers are acceptable)
Give 3 examples of obstacles that could prevent you from achieving you financial goals.
Insufficient income, unemployment, injury, lack of discipline, bad organisation skills etc.
This person helps businesses make critical financial decisions by collecting, tracking, and correcting the company's finances.
Accountant
If you earn $4500 a month, what is your yearly salary? (before tax)
$54000 a year
How much should you have on hand in an emergency fund.
1) 1 month worth of expenses 2) 3-6 months worth of expenses 3) 1 years worth of expenses 4) 5 years worth of expenses
3-6 months worth of expenses
Risk Aversion
The tendency to avoid risk when it comes to finances.
(similar answers are acceptable)
What do the letters S M A R T stand for in SMART goals
Specific, measurable, achievable, relevant and timely
This person is responsible for tracking a company's financial performance against a plan, analyzing business performance and market conditions to create forecasts, and helping senior management make tactical and strategic decisions by providing periodic reports.
Financial Analyst