Budget Boss
You earn $100 from a part-time job. You decide to save $20 before spending anything else. What percent are you saving?
20%
True or False: Food is generally considered a need.
True
What is the purpose of a checking account?
It allows you to safely store money and make everyday payments or purchases.
What does "comparison shopping" mean?
Comparing prices, quality, features, or deals before deciding what to buy.
What is an emergency fund?
Money set aside for unexpected expenses.
You have $300 coming in each month. Your expenses total $250. How much money do you have left?
$50
Which is more likely to be a want: electricity or a new pair of expensive headphones?
Headphones
What is a debit card usually connected to?
A bank account
A $60 jacket is 50% off. What is the sale price before tax?
$30
Give one example of an unexpected expense a young adult might have.
Examples include a broken phone, transportation problem, medical expense, or replacing something important.
Why is it helpful to make a budget before spending your money?
It helps you plan where your money goes and avoid spending more than you have.
You have $40 and need toiletries that cost $15. You also want a $35 video game. What should you consider before buying the game?
Whether you have enough money left for your other needs and expenses.
What does an ATM allow you to do?
Access your bank account to perform certain transactions, such as withdrawing cash or checking your balance.
Store A sells headphones for $25. Store B sells the same headphones for $19. Which store has the better price?
Store B
You get paid $400. You immediately spend $350 because you "have money now." What could be the problem with this plan?
You may not have enough money for future bills, needs, emergencies, or savings.
You have $80. You want shoes for $50, food for $15, and a video game for $30. Can you afford all three?
No. They total $95, which is $15 more than you have.
Name two questions you can ask yourself before making an impulse purchase
Why should you protect your debit card PIN?
Because someone who obtains your PIN may be able to access your money.
A website says, "ONLY 2 LEFT! BUY NOW!" What should you do before making a purchase?
Slow down and decide whether you actually need or want the item rather than buying because of pressure.
Why is having savings important even when you don't currently need anything?
Savings can help with future goals and unexpected expenses.
You receive $200. You want to save 25% of it. How much should you save?
$50
You see something you've wanted for months, but buying it would leave you with almost no money for the rest of the month. What's the financially responsible choice?
Wait, save more money, or find a less expensive option.
You check your bank account and notice a purchase you don't recognize. What should you do?
Tell a trusted adult/bank representative and contact the bank promptly to report the suspicious transaction.
Why isn't the cheapest product always the best deal?
Quality, durability, warranty, quantity, and other factors can make a slightly more expensive item a better value.
You have a job and receive your first paycheck. Name three things you should consider doing with your money.