Gold Rules
What are Wants & Needs?
Wants- Things that you don't need for survival
Needs- Things you need to survive
How did we get to the digital world when it comes to money?
A. Checking Accounts
B. Credit Cards
C. Gold Standard
B. Credit Cards
The second company that created a way to transfer money digitally?
PayPal
What is the Stock Market?
A place where people buy and sell shares (pieces) of companies.
When working, why is it important to check your paychecks?
To make sure you’re getting paid the right amount. Mistakes can occur with your hours or pay rate, primarily because computers are used to calculate your hours.
Name 3 Precious Metals
Gold, Silver, Copper, Platinum, Bronze, Palladium, Indium, Scandium, Rhenium, Osmium, Iridium, Ruthenium, Rhodium
Where were the first credit cards used?
Clothing Stores in New York.
What is cryptocurrency?
Cryptocurrency is a type of digital money you can use to buy things, trade, or invest — but it only exists online.
What do you buy and sell in the Foreign Exchange Market?
Other countries' currency (money)
What happened in the 2020 Coin Shortage?
In 2020, during the COVID-19 pandemic, there weren’t enough coins like pennies, nickels, and quarters in stores and banks.
You had to use exact change, or you would not receive back what you were owed.
What 2 places in NY were traded for shells?
Staten Island and Manhattan
What was the name of the first credit card?
Charg-It
What is a Data Compromise or Data Breach?
When someone hacks into a companies data base and steals their customers personal information. Things like Name, Date of Birth, Social Security Number, etc.
What is a Stock Ticker Symbol?
A stock ticker is a short group of letters (usually 1 to 5) used to identify a company’s stock on the stock market.
Think of it like a nickname for a company’s stock.
What does USD stand for?
United States Dollar
What is California's nickname and how did it got this name?
The Golden State. Miners found large amounts of Gold in California in 1848.
What is an Overdraft Fee?
An overdraft fee is a charge your bank gives you when you spend more money than you have in your account.
For example:
If you only have $20 in your account, but you swipe your card for $30, the bank covers the extra $10 — then charges you a fee, like $35, for going over.
Which cryptocurrency helps banks send money worldwide, faster and cheaper. It’s more like the back-end muscle of the financial world.
Ripple (XRP)
How often are Dividends paid out?
Depends on the company you are invested in.
It could be:
Monthly, Quarterly, or Annually
What is Gross & Net Pay?
Gross Pay = The total amount of money you earn before anything is taken out (like taxes or insurance).
🧾 Net Pay = The money you actually take home — it’s what’s left after deductions.
Who's job was it to melt precious metals into coins?
Goldsmith's
How much do banks make in fees yearly?
A. 385 Billion
B. 88 Billion
C. 385 Million
D. 10 Trillion
A. 385 Billion
Explain an NFT
NFTs (Non-Fungible Tokens) are like digital collectibles — kind of like owning a rare pair of sneakers or a limited-edition trading card, but online.
Each NFT is one-of-a-kind and proves you own something like:
a digital artwork
a music track
a cool video clip
even a game item
And just like you can sell or trade real stuff, you can sell NTFs too.
What is Compound Interest?
When you earn interest not just on the money you invested initially (called the principal), but also on the interest that money earns over time.
Explain Fiat Currency
Fiat currency is money that a government says is worth something, even though it’s not backed by gold or silver.
It's valuable because people trust the government that prints it.
Example: The U.S. dollar (USD) is fiat money — it’s just paper, but we use it to buy things because the government says it’s legal money.