Saving
What do the initials CD stand for?
What is Certificate of Deposit
What does the term “diversification” mean in investing?
What is spreading out investments to reduce risk?
The financial "grade" that you are given as an adult that shows how trustworthy of a borrower you are.
What is Credit Score?
What does FOMO stand for?
What is fear of missing out?
What is the deadline for filing federal income taxes in the U.S.?
What is April 15 (or the next business day if it falls on a weekend or holiday)?
What is the real name of the actor who plays Spider-Man in the Marvel Cinematic Universe (MCU)?
Who is Tom Holland?
What was my old last name?
What is Phillips?
What is the appropriate amount to have saved up for an "emergency fund"?
What is $1,000 or 3 months worth of expenses?
When investing, besides the actual investment amount, what is the most important factor when it comes to maximizing investment growth?
What is time?
What is the term for the maximum amount you can borrow on a credit card?
What is the credit limit?
Give me two ideas that are typically associated with the cognitive bias "girl math"
What is:
Cost-per-wear: Breaking down the price of an item into a cost-per-use.
Sunk costs: Ignoring past expenses (like a concert ticket bought months ago) and treating them as "free" by the time the event happens.
Mental accounting: Cash might be considered "free" because it doesn't directly impact bank balance, while app balances or credit card spending is treated as "free" because the money is already spent.
Free shipping: Spending extra to qualify for free shipping is seen as saving money, not spending.
Sales are savings: Purchasing items on sale is seen as saving money rather than spending.
Anything under $5 is free
Returns are profit: Returning items and getting a refund is seen as making money.
Not spending is earning: Saving money on one day is considered adding to the budget for later.
What is the name of the form your employer gives you to report your annual wages and the amount of taxes withheld?
What is a W-2 form?
What is the largest bone in the human body?
What is a femur.
How long have I been teaching at Webster Thomas?
What is 5 years?
What type of account usually yields the least in interest? **HINT:be specific on the type of bank
What is a commercial bank savings account
What are the two main advantages of investing in index funds over mutual funds?
What is lower fees and diversification?
What is your best guess for the first year credit cards were invented? (+/- a year)
What is 1950?
What does the cognitive bias "decision fatigue" mean?
What is when mental resources are depleted after making numerous decisions, leading individuals to favor immediate gratification, oversimplify complex decisions, or default to familiar, less optimal options.
What is the abbreviation for the two types of taxes that fund Social Security and Medicare?
What are FICA taxes?
What is the rarest naturally occurring eye color in humans?
What is green?
What is my favorite color?
What is yellow?
What is the difference between saving and investing? And what financial service is used for each?
What is saving is to store your money, investing is to grow your money. Savings accounts/CDs, or money market accounts help you save. And investments like stocks, bonds, or index funds help you invest your money.
What does it mean to "short" a stock like in The Big Short or the gamestop debacle in 2021?
What is "to bet against" or to bet on the value of something going down?
What is the term for a legal process that eliminates most of a debtor’s debts but severely impacts their credit?
What is bankruptcy?
Name a tiktok trend that is relevant and give a short explanation as to why that trend is a financial trap.
What are examples may include:
Overconsumption, New or Trendy Ideas, Girl Math, Day Trading, Gambling (Online, Fake Sports Betting, etc.), Multi-Level Marketing Schemes (MLMs), Microtrends, “Passive Income” Myth, Hustle Culture, Spending to Become an Influencer
And explanations may vary.
What is the difference in paychecks between semi-monthly pay schedule and bi-weekly?
What is semi-monthly is 24 paychecks per year and bi-weekly is 26 paychecks per year?
What is the hottest planet in our solar system?
What is Venus?
How old am I?
What is 28 years old?
How do banks work?
What is by accepting deposits from individuals and businesses, then lending those pooled funds to others in the form of loans, earning interest on the loans and making profits?
The MBS is a type of security that was instrumental in the financial crisis and housing market crash in 2008. What does MBS stand for?
What is Mortgage Backed Security?
Do you get charged APY or APR for loans/credit cards?
What is APR (annual percentage rate), not APY (annual percentage yield) which is for savings accounts.
Assuming we sleep 8 hours a day, how many ads does the average person see per day? (+/- 500)
What is 5,000/day?
What fed government uses your adjusted gross income to calculate income taxes. What is the difference between annual gross income and adjusted gross income?
What is adjustments to income are taken out (like your 401k or health insurance)?
What is the full name of the wizard Gandalf in The Lord of the Rings?
What is Gandalf the Grey (later Gandalf the White)?
What is my dogs name?
What is Ellie?