Counting Coins
How many cents is a quarter worth?
$0.25
How many $5 bills are in $20?
4
What is income?
Money you get for working a job
There are needs and there are wants. What is a need?
Something you cannot live without
What is cash?
Coins and bills
What does one quarter plus one dime equal?
$0.35
What is $5 + $5?
$10
What are expenses?
Things you need to pay for (ex.- rent/mortgage, utilities, food)
There are needs and there are wants. What is a want?
Something you can live without, but would like to have
What does it mean to take out a loan?
A bank/financial business gives you money to buy something right now because you don't have the money. You promise to pay it back by a certain time, usually with interest.
How many quarters are in $1?
Four
How many $20 bills does it take to make $100?
5
When you have a job, you get a _____ ______ the days you get paid.
Direct Deposit
What does it mean when something is on sale?
The item costs less than normal
What is e-transfer?
Sending money from one account to another, using email.
How many dimes are in $1?
10
True or false: There is a $15 bill.
False
When you get a job, the money, usually, gets deposited into your _________ account.
Chequing
If you cannot afford something at the time you want to buy it, you should...
What is a check?
A piece of paper that promises you have a specific amount of money in your bank account that will be transferred when someone cashes it.
How many nickels are in $1.00?
20
How many $10 bills would make up $200?
20
Once you have a job and a chequing account, the bank issues you a ___ card so you can use the money in your account.
Debit
What is impulse buying?
Buying something (that is often a want, not a need) right away instead of saving for it or thinking how it will affect your budget
What is the difference between a credit card and debit card?
A credit card lets you use money you don't have right now, but you pay back each month when you get paid.
A debit card takes money you have out of your bank account right away.