Cash
What is one con to using cash?
Hygiene concerns
Risk of loss.
More complicated currency exchanges.
Counterfeiting
The recipient's name, the amount, the date, memo, your name.
What is your debit card "linked" to?
Your banking account.
What is a credit card?
A card that allows you to borrow money to make purchases.
What form of payment would you most likely use for small person-to-person gifts and payments.
Cash
Why is using cash fast and easy?
Bills and coins settle a payment instantly. You don’t need access to equipment, the internet or electricity to pay with cash, meaning it can be used when the power is down or if you lose your card.
Why are checks considered an "outdated" way to send money?
What are 2 things you can do with a debit card?
Every time you use your credit card, you’re ______ money from a line of credit.
What is the 4-digit code you use at bank machines or when paying for something at a store.
PIN number
Why is using cash more secure than using other forms of payment?
Cash has proven to be secure in terms of cybercrime, fraud and counterfeiting.
True or False? There is a fee to pay when you write a check.
The code you use at bank machines or when paying for something at a store
What is a PIN?
What is interest?
A fee someone pays when they borrow money and don't pay it back right away.
Should you use a credit or debit card for unexpected emergency situation?
Credit Card
Why is cash a legal tender?
Issued by the government, creditors cannot refuse cash.
What would be the best situation to write a check?
Paying in large sums. House, car, rent, etc.
Why don’t you pay extra money in interest when you pay with a debit card.
You are using that is already in your account, not borrowed money.
What is a credit score?
A number between 300-900 that shows how likely you are to pay back a loan based on your credit history.
How can it be easy to overuse/abuse a credit card?
Which well-known American politician is on the $100 bill?
True or False? Someone can write a check for an amount larger than what is held in their checking account.
False. Checks are tied to your account. You cannot write a check from a line of credit.
True or False? You get a monthly bill for your debit card usage?
False, that is a credit card.
How old do you need to be to get a credit card?
18
What would be the best form of payment to use when travelling abroad?
Credit Card