Consumer Awareness Jeopardy

TRUE or FALSE

400

The number-one cause of divorce in North America today is stress and disagreements over money.

Explain.

TRUE

500

Both a credit and debit card can get you in debt trouble?

FALSE, a when using a debit card you can only spend what you have in your account. 

What type of expense is it?

100

What type of expense is rent?

Variable

200

**DAILY DOUBLE, worth Double Points**

Groceries are a...variable or fixed expense? Explain

Class votes!

300

Why is it necessary to understand the difference between fixed and variable expenses when creating a budget.

Because with fixed you can always plan for the amount and variable expenses can be estimated when tracked to budget for a similar amount. 

Money

100

_________ pay is the amount of money earned before taxes?

Gross

300

This occurs when money is withdrawn from a bank account and the available balance goes below zero.

Overdraft

Budget

300

List what type of expenses should be in your monthly budget. (at least 2)

Both fixed and variable expenses and discretionary spending

500

True or False 

Writing and following a zero-based budget will help you avoid overspending and impulse purchases.

Explain

True, every dollar has a purpose and will help you avoid unfavorable spending habits.

Miscellaneous

300

The widespread financial insecurity of Americans is primarily because:

Saving rate of Americans is low and many borrow in order to spend more

400

A credit score is intended to measure?

Risk of you repaying debt

500

What percentage of Americans are living paycheck to paycheck? (Must be within 5%)

70%