Setting up the Kitchen
What are 3 items you would cook in a frying pan?
Eggs, pancakes, burgers, chicken (answers will vary)
Expenses
Items and/or services you spend money on. Give some examples.
What is a sales flyer?
A list of items in the store that are on sale, usually for a specific date range
Explain what a minimum payment is.
The least amount of money you can pay each month without getting an added fee.
What is the difference between a checking account and a savings account?
Checking: Make purchases and deposits
Savings: A place to keep money for a large purchase or life emergency
What item would you use to make a smoothie? (Mutiple Choice)
Choose one: mixer, whisk, blender, or mixing spoon
Budget
A plan for what you spend money on
When you buy something not on your list.
What is the main purpose of a credit card statement?
To show how much you owe, your payment due date, and the minimum payment.
What type of identification do you need to open a bank account?
Drivers License, State ID or passport
What is a colander used for? (Multiple Choice)
Choose one: scrambling eggs, making jam, draining pasta, baking bread
Income
Money you earn
What is an informed shopper?
Someone who knows why they are buying an item and the information about that item
Why is it important to make your monthly payments ontime?
To avoid late fees and maintain a good credit score
How do you prove your current address when opening a bank account?
A recent utility bill
When moving into your first apartment/home, name 4 necessary items you should purchase for your kicthcen?
Answers will vary (dishware, glassware, silverware, cookware, dish soap, paper towels/hand towels)
Utilites
Services you pay for when renting or owning your home (not included in your rent or mortgage)
Identifying whether something is good or bad
What is an RFID chip, and how do you use it?
Radio Frequency Identification: This chip allows you to tap to pay.
How much money do you need to open a bank account?
25 to 50 dollars (Each Bank may vary)
What is another name for a skillet? (Multiple Choice)
Saucepan, pizza pan, frying pan, loaf pan?
Describe the difference between wants and needs.
Needs: Items you cannot live without- Give examples
Wants: Items you can live without- Give examples
What is a comparison shopper?
Someone who looks at two different places and/or brands of the same item and determines which is better.
What is the difference between a credit card and a debit card?
Credit: Bank loans you money, and you pay it back with interest.
Debit: Draws from your bank account.
Name 2 items you get when opening a bank account.
A debit card and a checkbook/ blank checks