Being a smart shopper
What is a deduction from the usual cost of something, typically given for prompt or advance payment or to a special category of buyers?
Discount
A checking account statements lists...
all the purchases and deposits you've made in the previous month
What is something that would count as a monthly expense?
Rent/mortgage, water, electricity, cell phone bill, etc.
Justine's part-time job pays her $8 per hour. She works for 10 hours this pay period. How much is her gross pay?
Why would you use peer-to-peer payment apps?
To send money to a buddy
The way people shop intelligently. Usually requires you to set a budget, decide what features you want, and see which stores/brands best fit your needs
What types of transactions reduce the amount of money in your bank account?
Withdrawals (Debit card/ATM/Transfers to another account)
What are the 2 main portions of a budget?
Income (money coming in) and Expenses (Money going out)
Brandon receives his paycheck, and it says his gross pay is $250 and his net pay is $200. How much money did he have in deductions this pay period?
$50
Marshawn is trying to determine if an item at the mall is a NEED or a WANT. What is a question that would be helpful in making that decision?
Will something bad happen if I don't have this item?
What is the first step in comparison shopping?
Deciding what features are important.
What 2 things do you need to open a checking account?
ID and proof of address?
Why does it matter if an item is a need or a want?
Needs should take priority in my budget
Why should you use your NET pay when creating a budget?
That is the actual money coming into your account.
Creating a budget can make you feel powerful! Why?
It puts you in control of your money.
Mrs. Western needs to buy cookies for her favorite class (you guys) and a TV. Which should she do more comparison shopping for? Which one, both, or neither?
The TV
Chang wants to use his mobile wallet at a t-shirt shop on vacation. What does he need to do to pay for the item?
Hold his phone up to the credit card reader
Kylie plans on using the 50/30/20 rule for budgeting. How will she split her budget?
50% Needs, 30% wants, 20% savings
Looking at the picture, how much money has this employee earned in gross pay this pay period?
Who has to pay taxes to the US government?
Anyone who has income
Why do stores offer discounts to their customers when it causes them to lose money?
Great deals convince customers to buy things they don't need and stay loyal to the store or brand
What is the difference between a gift card and a prepaid card?
gift cards are store specific while prepaid cards can be used anywhere
Ethan is considering updating his cell phone plan to include unlimited data. In what kind of situation could unlimited data be a NEED for Ethan?
Needs it for work/school
Looking at the picture, how much money has this employee paid in deductions this pay period?
$692.24
Complete this sentence: The federal government budgets its tax money on three large buckets of expenses -- mandatory spending, discretionary spending, and .....
Interest on debt