Education
What are types of financial aid the government gives to eligible people?
- Loans
- Grants
Should you always try and save money when buying things
Yes
Helps you have more money for other things (make sure you read the fine print when you get something at discount)
Should you budget your spending
Yes, very important to do so, especially with your credit cards
Your parents career will automatically be your career T/F
False
You choose what career you want, you can choose your parents if you want to
How do I earn money
Through your job
Through scholarships/grants
Name a different federal financial student aid organization
- FASFA or FSA
How can I open a savings account
Go to your local bank and open a student savings account
Put in as much money as you can
If I spend all the money on my credit card does it mean I don’t have to pay it all back
No
You have to pay it all back plus interest rates
I can’t change careers once I graduated college T/F
False
You can change, even with you degree there’s gonna be different careers you can do or you can go back to college
What is the responsible choice to do with your money
To budget
What is the difference between education loans and grants?
Grants a sum of money, that doesn’t require you to pay them back
Loans have to be paid back in full with interest
Should I open and close a savings account for each goal I create
No
Keep it open, keep adding and taking away money for each goal (or keep adding money)
How can I budget
You see how much income you make, how much you need to essentially live on, and you can divide the rest for fun spending and for emergency stash
How can you choose a career
Googling different careers
Choose one that you are passionate about and see yourself doing for many years
I should spend all my earnings once I get it T/F
False
Budgeting is essential
As a freshman in college, students loans are: short term, mid-term, or a long term goal?
long term
Does interest rates in my savings account means I have to pay for the money I save
No
You actually get more money for having high amount of money saved
Is spending a short term, mid-term, or long term goal to budget.
You will be continuously spending so you need to be continuously budgeting
None of the above
Is a career a short term, mid-term, or long term goal
Long term
You should keep trying to get promotions at your career to get a raise
I can only get one source of income T/F
False
You can have multiple such as your job and your stock revenue
What do you need to do to gain a education grant from the government.
Apply to FASFA by its due date
The earlier the better
Are savings a short term, mid-term, or long term goal
All of them
Depends on what your saving on (if less pricy will take less than a year, if very pricey may take more than 5 years)
How many credit cards should I have
As many as you can pay off on time and use
Can I get a career without going to college
yes
You can go to trade school
Or have a minimum wage job
Is earning a short term, mid-term, or long term goal.
Long-term
You should keep earning money until you have to retire, and only spend money from those past earnings