Session 1: Foundation
Humans' three dominant needs.
What are food, clothing, and shelter?
Someone who gives their time and energy to help a cause without receiving any financial reward.
Who is a volunteer?
Income and expenses over a given time.
What is cash flow?
We used an online calculator to plan for this event.
What is a class party?
Anything you get or purchase with the goal of generating income at some point in the future.
What is an investment?
This person said: "You wanna know which ring is my favorite? The next one."
Who is Tom Brady?
To spend time following and observing a professional while they work.
What is job shadowing?
Recording all spending is a key component of this.
Acronym that helps you create goals.
What is S.M.A.R.T.?
When you purchase this, you own part of the company. Its value goes up and down quickly, and it is considered risky.
What is a stock?
This advertisement misled customers by claiming the product "gives you wings."
What is Red Bull?
What are jobs?
The ability to borrow money.
What is credit?
Education, charity, investment, entertainment, and travel are examples of these.
What are financial values?
When you purchase these, you are giving a company or the government a loan. They are safer than stocks, but earn fewer returns.
What are bonds?
Being appreciative for something good that comes from someone or something that is not you.
What is Gratitude?
A profession for which a person trains and works for a significant period of their life.
What is a career?
Debit cards and checks connect to this type of account.
What is a checking account?
Account type that sets money aside and gains interest slowly.
What is a savings account?
This is a mutual fund that trades on the market like a stock?
The ability to navigate various financial skills and concepts, including budgeting, managing debt, investing, understanding taxes, and more.
What is Financial Literacy?
Involuntary fees enforced by government officials to finance government activities like building and repairing roads, funding public schools, and more.
What are taxes?
Small metal processors which make it harder for criminals to steal information.
What are smart chips/bank card chips?
In the example of turning values into goals, "save $500 each summer" was this part of the goals acronym.
What is measurable?
Spreading your money across several investments so if one company does poorly, it will not affect you as badly. Mutual funds help with this.
(Hint: It's a long word!)
What is diversification?