General Info. 1
True or False: Whenever you receive money, you should spend it.
False
Debit cards and credit cards are basically the same.
False
A debit card is connected to a:
checking and saving account OR no account at all
checking and saving account
What are 3 basic items you may have to budget for if you live on your own?
Answers may vary: Food, gas, furniture, cleaning supplies, toiletries
Deposit means:
You can open your own bank account at this age.
18
Your bank statement gives:
a. you a refund
b. a breakdown of all withdrawals and deposits for that period
c. a check of your credit score
b. a breakdown of all withdrawals and deposits for that period
This is a four digit number that someone uses to access their account information at an ATM machine:
Pin Number
Explain what it means to be a smart shopper.
A smart shopper is someone who thinks about their wants and needs. They do not spend money an everything they want, and consider the things they really need.
take money out of your account
This means to put money into your account:
Deposit
What is one bill a person would have to pay if they lives on their own?
Electric, rent, car payment, car insurance, health bill
Give at least two different ways to make a payment:
cash, check, apple pay, debit card, google wallet
Explain why it is important to check your bank statements- either online or when you receive them in the mail.
To keep track of your balance, make sure you are not being charged for any purchases you did not make, and you are saving enough money
What happens to your balance when you deposit money? What happens when you withdraw
Withdraw -
This means to take money out of your account:
Withdraw
Give an example of a time when a person might receive a check.
birthday, graduation, religious milestone, wedding, work
Explain how to use a debit card.
Swipe, tap, or insert chip to pay, enter PIN, press green button
Shopping, going out to eat, going to the movies- it is important to save money but you should still have fun and enjoy your life :)
Deposit or Withdraw: Earning money for mowing lawns on the weekend.
Deposit
Why do people not tip at a food court?
No one is bringing you food. You do not order at a table.
Explain why it's important to save money and think about wants vs. needs.
Have to save for your future, save up for an expensive purchase or emergency, not waste your money
Answers will vary
Answers will vary
Give one example of a withdrawal and one example of a deposit you might make as a young adult.
Answers will vary.