Voting
How old do you have to be to register to vote?
18 years of age
Why should you make a budget?
Various answers
True or False:
I can open a bank account at a credit union or a bank.
True!
Can you use a debit card at an ATM?
Yes! It will pull the money directly from your account, instantly.
True or False:
There is a state and federal income tax
TRUE!!
Name one reason you should register to vote
Can be any of the following:
•Play a role in choosing our leaders and changing our laws by voting
•Advocate for yourself and your community
•Help make a change at a community, state or national level
•Share your voice
•Utilize your right to vote! It’s a privilege that many people in the world don’t have
What should you do first when budgeting?
List your income
True or False:
I use my savings account to pay my bills.
False! Your checking account is used to pay bills.
Do you get penalized if you dont pay off your credit card on time?
Yes! Late fees occur and your credit score may take a hit.
What form is used by the employer to determine the amount of income tax to withhold?
Form W-4
True or False:
You can only vote in local elections
False! You can vote in ALL elections, not just local!
True or False:
I should lease a car that has a car payment thats 60% of my monthly income.
False! 50% of your income should be budgeted for necessities, not for just your car.
What is one thing you should look at when finding a bank to open an account at?
Look for low or no fees, overdraft, ATM fees, ATM and bank locations near you.
True or False:
Debit cards help your credit score.
No. Credit cards can help your credit score.
What month are your taxes due in?
April
Name one reason you should register to vote
Can be any of the following:
•Play a role in choosing our leaders and changing our laws by voting
•Advocate for yourself and your community
•Help make a change at a community, state or national level
•Share your voice
•Utilize your right to vote! It’s a privilege that many people in the world don’t have
What is the 50/30/20 budget rule?
30% saved for wants/fun
20% saved for savings/financial goals
True or False:
I need to fill out a slip when I am withdrawing money but not when depositing money.
False! There are slips for both withdrawal and deposit.
Do you have to be approved for a credit card?
Yes! Credit check and approval required.
Where can you get free tax forms from?
The local library, government offices or the IRS
True or False:
I have to go in person to vote.
False! You can apply for an absentee ballot online if you cannot make it in person to vote.
What is one variable expense and one fixed expense?
Variable: something that changes (groceries, dining out, medical bills)
Fixed: something that remains the same (car payment, rent etc)
What age do you have to be to not have a co owner on your bank account?
At least 18 years of age
What does your credit score affect your ability to do?
It affects your ability to take out loans for a house, car etc.
If I overpay on taxes, I will not get a tax refund.
False!
You WILL receive a refund if you overpaid on taxes after filing.