Banking, Saving, & Budgeting
Credit, Loans, & Identity Theft
Random!
100
What is a budget?
A plan for how you will spend and save your money.
100
What is a loan?
A loan is moneyborrowed that mustbe paid back overtime, usuallywith interest.
100
True or False: Only parents play a role in building strong family financial habits and skills.
False!
All family members (grandparents, teens, children, aunts, uncles, etc.) play a role in building strong family financial habits and skills including parents.
200
What are the two main types of accounts you can open at a bank or credit union?
Checking Account & Savings Account
200
Is a credit score of 812 considered "poor" or "exceptional/excellent"?
Exceptional/Excellent
200
What are the two ways to make money that we discussed?
THE TWO WAYS TO MAKE MONEY
1. You work for money.
2. Your money works for you= INVESTING
300
True or False: Both banks and credit unions are non-profits.
False!
Credit Unions are non-profits to help members with their financial needs.
Banks are for profit to make money for their owners.
300
True or False: This is an example of phishing.
True!
Suspicious Sender Email
Urgency and Threats
Generic Greeting not using person's name
Grammatical Errors
Request for Personal Information
Suspicious Link
300
Name two family financial roles we learned about.
Possible answers:
- Earner
- Saver
- Spender
- Planner
- Learner
400
Give one reason why saving and creating a financial safety net is important.
Possible answers:
Financial Independence
Goal Achievement & Peace of Mind
Emergency Preparedness
400
Name one of the types of loans we discussed.
Possible answers:
- Personal Loan
- Auto Loan
- Student Loan
- Mortgage Loan
- Home Equity Loan
400
What is the first step to investing?
1) Start with a Goal
Don’t begin by asking what to invest in, start by asking why. Are you saving for retirement, a home, or college? Your goal will shape your investment strategy.
500
In the U.S., consumers' money is protected by federal agencies that insure most deposits against certain losses. What is the maximum amount of money covered?
$250,000
500
When identity theft occurs, you are supposed to report it to the FTC. What does FTC stand for?
Federal Trade Commission
500
A financial plan is essential for making informed choices because it helps with different things. Name one of them.
Possible answers:
Sets priorities – Helps focus on needs over wants.
Guides spending – Prevents impulsive choices.
Prepares for emergencies – Builds a financial safety net.
Supports goals – Keeps long-term plans on track.