Financial Literacy

Banking

100

What type of account is used to save money?

Savings Account

200

What is it called when you put money into your bank account?

Deposit

300

What is the type of fee that will be charged if you use more money than you have available?

Overdraft fee

400

What does ATM stand for?

Automated Teller Machine

500

This type of card is attached to your checking account for purchases.

Debit Card

Budgeting

100

What is a budget in 5 words?

 A plan for your money

200

What is income?

Any money you have coming in. Can be from a job or allowance. 

300

What is the difference between a fixed expense and a flexible expense?

A fixed expense does not change (rent, car payment), a flexible expense does change (electric bill, water bill)

400

What is money that is owed?

Debt

500

Something specific you want to achieve with your money is called what?

A financial goal!

Money Matters

100

What is a specific duty, task, or activity someone completes using his or her time, skills, and energy to earn money.

A Job

200

What is difference between a Debit card and a Credit Card?

A debit card is your money. A credit card is borrowed money.

300

What does the term SMART goals mean?

Specific, Measurable, Action-Oriented, Reachable, and Time-Bound.

400

What are some examples of external influences?

Celebrities, Influences, Social Media, TV, Friends...

500

True or False: It is human nature to want what others have.

True.

Credit

100

What is the range of a credit score?

350-850

200

True or False: When applying for a job, the employer can check your credit history and/or your credit score.

True. 

300

How many credit reporting agencies exist?

3. Experian, Equifax, and Transunion

400

What is credit?

The ability to borrow money.

500

What are the 4 C's?

Character, Capacity, Capital, and Collateral.

Identity Theft

100

What should you always do with your trash with important information?

Shred it (dispose of it in a way where it cannot be read)

200

True or False: You can eliminate all risks by taking precautions to protect yourself.

False. You can take steps to reduce risk but can never full eliminate it. 

300

If your debit card is stolen, who should you contact?

Your bank or credit union.

400

What are emails where thieves will impersonate a company that you do business with, such as your bank or credit card company in order to gain information?

Phishing emails

500

What website should you go to if you think you are the victim of *identity theft*?

identitytheft.gov