Needs v. Wants
Which of the following is a NEED: food, Gucci sunglasses, or a house with a nice balcony?
Food
What do you call the money spent to purchase something?
What is an expense?
What is a charge imposed by the government on individual who lives in their country?
What is a tax?
What is an extra charge for money borrowed?
What is interest?
What is a bank account that earns interest?
What is a savings account?
Which is a want: entertainment or clothing?
Entertainment
What is a service provided by a company where you give money to them in exchange for protection in the case of an accident?
What is insurance?
What is pay before taxes called?
What is gross pay?
What is the name for a financial tool that is an INVESTMENT in a company?
What is a stock?
What is a type of savings account that has a fixed interest rate and fixed date of withdrawal?
What is a certificate of deposit?
What are goods necessary for living?
Needs
What is the easiest part of a budget for you to cut back on?
Entertainment
What is pay after taxes are taken out?
What is take-home pay?
What is the name of the financial tool that is a LOAN to a company?
What is a bond?
What are good that are not necessary for living?
Wants
What is the biggest expense for the average American?
What is their mortgage?
What is the government tax that takes a percentage of your total pay?
What is the income tax?
Of the following, which is a safer investment: a stock or a bond?
What is a bond?
Is it wrong to purchase things you don't need sometimes?
No
What will cost the average American $233,000 over the course of 17 years?
What is a child?
What is the largest tax taken from your paycheck?
What is the Social Security tax?
What is the term for the best way to invest your money with the least risk of loss?