Checking Account
This is the age at which you can sign up for your own checking account, with no parents / guardians needed.
What is 18 years old?
True or false? All checking accounts and credit cards have possible fees.
TRUE
This is a benefit of going to a community college.
What is saving money for the same curriculum?
This is the age you can sign up for your own credit card, without needing a parent / guardian.
What is 18 years old?
This method of getting a car will be less expensive per month, at the beginning.
What is leasing?
This is the plastic card used to purchase things directly from your checking account.
What is a debit card?
This fee is charged when you don't make a payment on time.
What is a late penalty?
True or false? It is better to get loans than scholarships.
FALSE
True or false? When you use a credit card, it takes the money from your checking account.
FALSE; using a credit card is like a "mini-loan" that you have to pay back!
What are paycheck deductions / withholdings?
True or false? You can send money directly from your bank to another bank.
TRUE
Name 1 fee that can be avoided with research / planning.
What is account fee, late fee, overdraft fee...?
What types of aid are provided by the federal government to help pay for college?
What are grants, loans, and work-study?
True or False? Credit cards are NOT factored into your credit score.
FALSE. Credit cards are absolutely factored into your credit score.
This is the concept or explanation as to why different places cost different amount to live.
What is cost of living?
This is the written record of all transactions provided by the bank.
What is a statement?
This fee is charged if you try to make a purchase but don't have enough money in your account to pay for it.
What is an overdraft fee?
What does FAFSA stand for?
What is the Free Application for Federal Student Aid?
True or False? If you make the minimum monthly payment for a credit card, you will be able to pay off the balance completely within a year.
FALSE. Minimum payments only pay off the interest, not the principal!
What is one thing that you have learned about financial literacy this summer?
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