Crazy Money Facts True or False
About 20-25 years ago, a gallon of milk in many places cost close to $1
What is true?
This is money you keep and don't spend so you can use it later.
What is saving?
A plan for how you will spend and save your money.
What is a budget?
A pair of Nike sneakers once sold for over $500,000 at an auction.
What is real? Rare Michael Jordan sneakers sold for over $500,000.
Something you want to achieve with your money, like saving for a bike or game.
What is a financial goal?
There was a time when a brand new video game cost about $20-$30.
What is true?
This place keeps your money safe and sometimes pays you extra money called interest
What is a bank?
Money you receive, like allowance, gifts, or pay from a job.
What is income?
Someone paid $1000 for a bowl of cereal at a restaurant.
What is ridiculous? As part of a cereal challenge, a restaurant paid $100 not $1000 for patrons to eat 5 lbs. of cereal.
A goal you want to reach soon, like saving for a movie ticket this month.
What is a short-term goal?
A pizza in New York city once cost only $0.30.
What is false? In the 1960s, a pizza cost only $0.15.
This is a rule or ratio that guides what should be spend on needs, wants and saving.
What is the 50/30/20 rule?
Money you spend on things you buy.
What are expenses?
A Pokemon card sold for over $5 million.
What is real? A rare Pikachu Illustrator card sold for millions.
A goal that may take many months or years to reach, like saving for college or a car.
What is a long-term goal?
The average American teen spends more money on snacks and drinks than on books.
Saving a little money every week instead of spending it right away shows this important habit.
What is paying yourself first?
This type of expense stays the same each month, like a subscription or allowance savings goal.
What is a fixed expense?
A banana tapes to a wall was sold as art for $300,000.
What is ridiculous? Famous artwork called "Comedian" sold for $120,000.
Breaking a big goal into smaller steps makes it easier to do this.
What is reach (or achieve) your goal?
The first iPhone in 2007 cost about $499, which many people thought was way too expensive.
What is true. Now many phones cost $800-$1200.
This type of account is mainly used to store money and earn interest rather than spend it.
What is a savings account?
If your income is $20 and you spend $15, this is the amount you have left.
What is $5?
A pair of jeans sold for $114,000.
What is real? What is considered the oldest paid of jeans dating back from the 1850s.
Saving $5 every week for $50 skateboard means you will reach your goal in this many weeks.
What is 10 weeks?