Chapters 1-3
What is the definition for a budget?
A plan for your money
Are there any drawbacks to applying for the FAFSA?
Is this the definition for branding or marketing?
"The promotion of a product or service by identifying it with distinct characteristics"
Branding
Which type of context for bargaining is defined by "A public sale in which property or items of merchandise are sold to the highest bidder"
An Auction
What are the names of the main characters in the film, "La La Land?"
Mia & Sebastian
Explain the Zero-Based System of Budgeting
A cash flow plan that assigns an expense to every dollar of your income, wherein the total income minus the total expenses equals zero.
Give an example of finding out a Return on Investment (ROI)
"Calculation that measures the profitability of an investment by comparing its final value to its initial cost."
Lets say there's a person that keeps their money in an interest bearing savings account rather than investing in stocks. Is this an example of opportunity cost?
Yes
Why do foreclosures occur?
Foreclosures happen as a result of an owner not making payments on time to the mortgage company
In the 2002 film "The Lord of the Rings: The Two Towers," the character Aragorn, played by Viggo Mortensen, kicks a helmet in distress after presuming someone to have died. After kicking the helmet, he screams. Why did Viggo actually scream here?
He broke his toe kicking the helmet
Name THREE of the Five Foundations of Personal Finance
Save a $500 emergency fund; Get out of debt; Pay Cash for a car; Pay Cash for college; Build wealth and Give
What does PhD Stand for?
Doctor of Philosophy
What term goes with this definition?
"To buy an item with credit; paying over time"
Financing
What's the difference between a Thrift shop and a Consignment shop
A Thrift shop gives money to non-profits, while consignment shops work for profit.
50 points if you said "Thrift shop is a song by Macklemore"
It's Morbin' Time. The villain-turned-antihero Morbius first appeared in Marvel comics in 1963 as a villain to another superhero. In which Marvel superhero's comic series did Morbius first appear?
A. Blade
B. Spider-Man
C. Ghost Rider
D. Trick question, it was his own Comic
B. Spider-Man
Explain the concept of Compound Interest
"Interest paid on interest previously earned"
In using the Debt Snowball method of paying off loans, how do you order which loans to pay off first?
From the smallest to largest balance
What is the definition of a "Significant Purchase"?
An amount of money you spend that causes some pain to part with
What is an example of a system of Cost-Benefit Analysis?
As previously mentioned, the box office hit and mockumentary 2007 animated film "Surf's Up," contains penguins and other birds competing in a surfing competition, which is a movie featuring movie star Jeff Bridges in the role of surfing legend Z. It also features a colorful cast of characters like Cody Maverick and Chicken Joe. Who voices Cody Maverick?
Shia LaBeouf
Explain what Chapter 7 Bankruptcy is
(Liquidation) A type of bankruptcy where individuals or businesses can eliminate most of their debts by “liquidating” qualifying assets to repay debts.
What does FAFSA Stand for?
The Free Application for Federal Student Aid
What does "Caveat Emptor" mean?
"Buyers Beware"
Name one way that markup is affected when it comes to small businesses vs larger businesses?
Something referencing not being able to buy in bulk as easily, how they have to markup higher to keep up competition, etc.
In the late 1990's & early 2000's, DreamWorks was working on the movie "The Prince of Egypt," directed by Steven Spielberg. It's been reported that animators failing to do their job well on the Prince of Egypt were delegated to work on another movie that DreamWorks was working on at the time, which was a movie based on a book. What was that movie?
Shrek
Appaerently the punishment even had a nickname - to be "Shreked."