Housing
Name one cost of renting besides rent.
Answers vary. King Claire will deem your answer correct or not.
What is a budget?
A plan for your money.
What does it mean to save money?
Setting money aside for later.
Name one warning sign of a scam.
Pressure to act quickly.
Name one way to give back without spending money.
Volunteer.
Rent is $1,000, utilities are $150, and transportation is $250. What is the total?
$1,400
You earn $2,000 and spend $1,500. How much remains?
$500
Name a risk of investing.
You could lose money.
What does FDIC insurance protect?
Eligible bank deposits, up to coverage limits.
Name one thing besides money you can donate.
Time or skills.
Apartment A costs $1,250 total. Apartment B costs $1,200. Which is cheaper?
Apartment B
Groceries. Need or want?
Need
Using the Rule of 72, how long does money take to double at 6%?
About 12 years
Someone promises guaranteed investment profits. Is that suspicious?
Yes.
Why should you budget before donating?
To make sure you can still afford your needs.
Name one upfront cost of moving into an apartment.
Security deposit, moving truck, or furniture.
An unexpected bill comes up. Name one way to handle it.
Use emergency savings or reduce nonessential spending.
Why is it risky to invest all your money in one company?
If that company loses value, you could lose a lot.
Does FDIC insurance protect stocks from losing value?
No.
You have $50 available after expenses and savings. Can you split it between a charity and a gift?
Yes, if the amounts fit your priorities and budget.
What two costs should you compare when choosing an apartment?
Rent and transportation costs.
Your income drops. What should you do first?
Review your budget and adjust spending...or cry.
What does diversification mean?
Spreading investments across different types of assets.
What should you do before investing with someone you met online?
Research and verify them independently.
Name three things to include in a giving plan.
A cause, a way to help, and a goal.