Money Mindset
What is a common money problem people face?
Spending too much money
Who is on the $20 bill?
Andrew Jackson.
What are people who are apart of a credit union called?
Members.
What is a budget for?
To help you reach your money goals.
What is credit used for?
To buy now and pay later.
When you make a decision with money, what should you think about?
How it will affect you now and in the future.
What do we call the money you get after taxes are taken out?
Net income.
What group insures deposits in credit unions?
NCUA.
If you are spending more than your income, what should you do?
Cut back on expenses or earn more.
What is an example of revolving credit?
A credit card, HELOCS, personal lines of credit.
Which mindset means thinking money equals happiness?
Money worship.
Which is not a source of income: wages, interest, or FICA?
How much does the NCUA insure per account?
$250,000
What are fixed expenses?
In the five c's of credit, what does "character" check?
Your history of paying back money.
What is the practice of regularly setting aside a portion of your income called?
Saving.
What is sales tax used for?
Adding tax to the price of goods.
What does the NCUA stand for?
The National Credit Union Administration.
What is the term for expenses that can change each month, such as entertainment or groceries?
Variable expenses.
What is a deductible in an insurance policy?
The amount you pay before insurance helps.
What is the term for the beliefs and attitudes you have about money?
Money mindset.
Which form do you fill out to show you can work in the U.S?
I-9 Form.
What type of account is made for students?
Student Checking Account.
What is the term for a plan that outlines your income and expenses?
A budget.
Why do you need car insurance?
To protect you if there is an accident or theft.