Budgeting
What is a budget?
A savings tool.
What is the fancy name that we used in financial literacy for a bank?
Depository intitution
What is identity theft?
It is when someone steals your personal information like your banking information or your name.
What are your options when buying a car?
You can buy a new car or a used car
What are 2 ways that you can acquire a home to live in?
Rent and own
What do we call the money that is coming in?
Income.
Why do people put money in banks?
Because the money is insured and safe
What do you call emails that pretend to be from legitimate businesses and try to steal your information?
Fishing emails
What is it called when you use a car for several years for a monthly payment and then return it and get another car?
Leasing a car
If you are not sure how long you will be living somewhere, should you rent or buy?
Rent
What do we call the money that comes out?
Expenses
What do we call an account that we use to save money for emergencies?
Savings account
What do you do if you get a phone call from your bank saying that there is something wrong with your account and they need you to verify all your information including your pin number?
Hang up the phone and call your bank directly.
Used car
If you want to be able to make alterations to the place you live in, should you rent or buy?
Buy
When making a budget, what should come first, your needs or your wants?
Needs
What do we call a card that holds money that we borrow from a bank that we can use now, but have to pay later?
Credit card
List 3 ways to prevent identity theft.
Have a secure hard-to-guess password
Do not open fishing emails
Only shop on trusted websites
Do not share your personal information with anyone over the phone or online
What do you call the amount of money you pay every month that covers your car in case of an accident?
Car insurance
What things should you consider when looking for a home?
Location
Price
Amenities
What is included
What is allowed
What are the budgeting steps?
Set how much time you have
Calculate your income and expenses
Calculate how much you need to save and how often
What is the difference between a credit card and a check card.
A credit card is not your money and you use it now, but pay it back later.
A check card is your money and you use it now and don't have to pay it back later.
List 3 things that you need to do if you are a victim of identity theft.
Call the police and FBI
Cancel your bank cards
Report it to the credit buro
List 3 additional expenses that come with owning a car other than a car payment.
Gas
Repairs
Car insurance
Car maintenance fees
License and registration fees
What are some additional expenses that come with owning a home? List 3
Utilities
Repairs
Maintenance and upkeep
Property Taxes
Upgrades