Consumer Skills
Budgeting
Credit
Saving
Surprise
100
A statement for this type of account lists all the deposits and purchases you have made in the last month.
What is checking account?
100
The two main parts of a budget are the income which is the money that is coming in, and this part which is the money that is being spent.
What are expenses?
100
The best way to avoid large debt when using your credit card is to do this.
What is pay your balance in full every month?
100
This refers to the habit of setting aside some money from each paycheck to save before doing any spending.
What is Pay Yourself First
100
Things you want to accomplish
What are goals?
200
What is D?
200
"Will something bad happen if I don't have this item?" is a question we can ask to help determine if something is one of these two categories.
What is a need vs. a want?
200
Not getting a loan, or if you do, having a high interest rate is a result of this.
What is having a low credit score?
200
This means if you have money in a checking or savings account and the bank goes out of business, you are guaranteed to get your money back up to a certain amount.
What is FDIC Insured?
200
beliefs of a person or social group in which they have an emotional investment (either for or against something)
What are values?
300
What is B?
300
These people have to pay taxes to the US government.
What is every person who earns income in the United States?
300
Credit cards allow you to borrow money to pay for things while debit cards take money right from ______________________.
What is a checking account?
300
How many withdrawals are you allowed a month from a savings account?
What is 6?
300
a person who uses goods or services
What is a consumer?
400
Prepaid cards can be used at many different stores, but this type of card can only be used at specific stores.
What is a gift card?
400
The rule for determining how much should be budged for needs, wants, and savings.
What is the 50/30/20 rule?
400
Anything above this number is considered a prime credit score
What is 720?
400
List 3 of the 5 things you must have to open a savings account as a teenager.
What are an initial deposit, an adult, identification, proof of address, and your social security number.
400
The MORE education and training you have, the _______ likely you are to earn to a higher income.
What is more?
500
To repay a friend who covered their cost at a restaurant is a common reason someone would use this type of payment.
What is a peer to peer payment app?
500
When looking at a paycheck, this is why gross pay and net pay different amounts.
What is taxes and withholdings are taken out of gross pay?
500
The total amount you borrowed is called this.
What is principal?
500
As teenagers opening savings accounts, these are the two most important things to look for.
What are no minimum balance requirements and no monthly fees
500
True or False: Employers are NOT generally required by law to take taxes out of an employee's paycheck.
What is False?