What is money?
I can store my money here for safe keeping.
What is the Bank?
Helps you to save your money, balance your income and expenses, save money...
What is a scam?
A dishonest scheme, fraud
Are free videogames free?
You go to the corner store and buy a bag of chips for $1.50.
Cash, Debit, or Credit
Cash or debit
What is money backed by?
Gold
The money you make each month is called what?
Income
There are three things the IRS will never do, what is at least 1 of them?
1. Contact you by phone or email.
2. Demand a specific form of payment
3. Threaten to have local law enforcement arrest you
What is it called why you purchase something within a game?
A microtransaction.
You want to buy a pair of sneakers from FootLocker online.
Debit, Credit, or PayPal
Debit card
When was the first coin invented?
640 BC
We have two types of items, things we need and things we want. What is the term for each of these?
Need= Necessity
Want= Luxury
How can you spot a pyramid scheme?
If a company stresses recruitment more than selling product.
Within the gaming community, people called 'whales' spend hundreds to thousands of dollars on in-game purchases. What is often the identity of these whales?
Young children who are accidentally purchasing these items without knowing the consequences to the bank account.
You are buying groceries for the next few weeks on payday.
Cash, Debit, or Credit
Debit or Cash
When was paper money invented?
960 BC
Each month we have costs that stay the same and costs that are different each month. What is the terminology for each?
Same= fixed expenses
Different= variable expenses
The Wolf of Wall Street is based on the true life story of this famous type of financial scam.
Companies artificially inflate the value of a stock they own and then pull out all the money before it crashes.
Studies have shown a correlation between gambling and purchasing what within games?
Loot boxes.
You want to purchase this cute shirt/pant set but you've never heard of the company before.
Debit, Credit, or Paypal
PayPal
What is it called when currencies have practical value?
Commodity monies
What is 3 ways to save money each month?
1. Use coupons
2. Shop sales
3. Limit luxury items
4. Work an extra shift
5. Plan out your budget to each detail
6. Sell some of your items you don't use anymore
What is the most important thing to avoid on social media that gives hackers the information they need?
Answering chain status' with personal information, oversharing too much information online, talking to people you don't know
What are two things you can do to avoid spending money in video games?
1. Only buy "pay once and play" games
2. Don't connect your debit/credit card info to your gaming account
3. Know the difference between enjoying a game and being addicted
4. Set a value in your budget for in-game purchases and track your spending
Give two examples of when you should use your credit card?
1. On vacation
2. In an emergency