What is cheaper, community college, state college, or private college?
Community college!
Are budgets always restrictive?
No! You can budget $1000 for fun money each month if you want! The main thing is that you have a plan for your money and follow the plan.
What's the most important thing to do when looking at a cheap used car?
HAVE A MECHANIC LOOK AT IT! It will save you from so much trouble.
Name one way to save money on food!
MAKE FOOD AT HOME! :)
Are you a good saver? Why or why not?
(answers vary)
When do you have to pay back student loans?
After you finish college, after the grace period (often 6 months).
What is an emergency fund?
What does the phrase "live below your means" mean, and how does it relate to cars?
Buy a car you can afford to own and maintain. Do you have to take out a huge loan and pay it for many years? Will the car be expensive to fix?
Name some expensive foods
Meats (especially beef/steak and salmon), Cheeses, name brand packaged snacks (Oreos)
Name some things to cut out of your budget if you lose your job?
What is the FAFSA?
Free Application for Federal Student Aid (student loans from the government).
Let's say you budget $50 a month for necessities (soap, toilet paper, etc.), and you've spent all $50. Now you need more toilet paper. What do you do?
Name 3 tips for finding a used car on Facebook Marketplace
(answers vary)
Name 2 expensive ways to eat
Doordash, fast food, fancy restaurants
What's the difference between a clean title and a rebuilt title, on a car?
Clean title cars haven't been totaled, they're the best option. Rebuilt title cars may be unsafe and unreliable.
Online! Colleges often have a page for scholarships, and the website "CareerOneStop" has thousands of scholarships.
How much should you save?
Saving 15%-20% is a good goal for any budget. It's hard, but it will pay off in the end!
Explain how car loans work.
You make a down payment, and pay the rest back with high interest, over many years. The average car loan is 6 years, and some people even pay off their car for longer!
Aldi, Lidl, Walmart, Grocery Outlet
What is compound interest?
If you have your money in a savings account with compound interest, you make money faster and faster each month, if you leave the money in the account.
Name one thing you might have to do to get a scholarship?
Write a long essay! For bonus points, say some things you would put in your essay!
What is a ZERO BASED budget?
It's a budget where your paycheck minus your expenses and savings equals zero. All your money is put in a category, otherwise it will disappear!
Name 2 of the 4 car brands that are usually good quality for low prices
Honda, Acura, Toyota, Lexus
Name 3 of the cheapest foods to eat if you're on a tight budget
Peanut butter, rice and beans, pasta, ramen, hot dogs, PB+J, macaroni and cheese
How does a credit card work?