Budgeting
What is the purpose of setting savings goals in a budget?
To work towards specific financial objectives, like buying a car or saving for college.
What is the minimum age requirement to apply for a credit card?
What is 18
Rick Ross
What is the purpose of saving money?
To build financial security and achieve financial goals.
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What are ways you can invest
STOCKS BONDS Cryptocurrencies REALESTATE
How can teens involve their friends in budgeting activities?
By organizing group activities that are budget-friendly or discussing financial goals together for support and accountability.
What are some ways to establish credit history if you're just starting out?
Getting a student credit card, becoming an authorized user on a parent's credit card, or applying for a secured credit card.
In her hit song MONEY, this female rapper boast I was born to flex, diamonds on my neck
Who is Cardi B
What is the concept of "paying yourself first" in saving
Allocating a portion of your income to savings before spending on other expenses.
What is investing
Investing is using money to buy assets (such as stocks, bonds, or real estate) with the expectation of earning a profit or gaining some form of return on the investment.
True or False: A budget is only for adults.
false
What is the purpose of a secured credit card?
To help individuals with limited or poor credit history build or rebuild their credit
In the song Mo Money Mo Problems this iconic rapper proclaims I'm blowin up like you thought I would
How can teens prioritize their spending to achieve their savings goals?
By distinguishing between needs and wants and allocating money accordingly.
What is a bond?
A bond is a type of investment where an investor lends money to a company or government in exchange for regular interest payments over a set period of time, with the promise of receiving the initial investment back at the end of the bond's term.
What are some examples of long-term savings goals for teens?
Saving for college tuition, a car, or a down payment on a future home.
How many credit bureaus are there in the United States?
Three major credit bureaus: Equifax, Experian, and TransUnion.
In the song Started from the bottom this rapper reflects on his rise to success, stating Started from the bottom now we here
Who is Drake??
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how old do you have to be to open a bank account
individuals under the age of 18 can typically open a bank account with the consent and assistance of a parent or legal guardian.
A bank is a financial institution that provides various financial services to individuals, businesses, and governments.
What are some ways teens can earn extra money to increase their budget?
By organizing group activities that are budget-friendly or discussing financial goals together for support and accountability.
What are some common factors that can lower your credit score?
Late payments, high credit card balances, opening too many new accounts, and derogatory marks such as bankruptcy or foreclosure.
Who is Lil Uzi Vert
What is the difference between a debit card and a credit card
A debit card allows you to spend money directly from your checking account, while a credit card allows you to borrow money up to a certain limit and pay it back later with interest
What is the difference between saving and investing
Saving involves setting aside money for future needs or emergencies in low-risk accounts like savings accounts, while investing involves using money to purchase assets like stocks or bonds with the expectation of earning a return over time