Financial Literacy
Debit vs Credit
Bank Accounts
Spending/Saving
Misc
100

When you use a ______ card the money is drawn directly from your account.

Debit

100

TRUE or FALSE: Credit cards are "free money!"

FALSE

100
Explain bank accounts

an account maintained by a bank to make money more manageable and convenient for the owner

100

List four of the categories we talked about for spending habits of teens today. (Hint: we talked about 10)

Concert tickets

Spring break trips

Online shopping

Cars

Fast food & Coffee

Expensive dates

Clothes, shoes & accessories 

Phones & apps

Video games & consoles

School dances

100

What do caterpillars turn into?

Butterflies

200

Explain budgeting

A budget is a set of goals to establish where you spend your money and/or what you spend it on. It also helps you keep track of your savings.

200

How much can you spend when using your debit card?

The amount in your bank account

200

What two types of bank accounts did we talk about today?

Checking and Savings!

200

What are the three times of year teens spend the most money?

Holidays, birthdays and special occasions 

200

Which two countries share the longest border?

The US and Canada

300

What top five things should you consider when trying to save money? (List at least three we talked about)

Assess where there is room for improvement

Clearly outline your financial goals

Set a realistic budget according to your lifestyle 

Limit most/if not all overspending

Be sure to put aside your savings before paying anything else

300

TRUE or FALSE: With credit cards you have to pay back the lender that you borrowed the money from?

TRUE!

300

We talked about three savings techniques, 50/30/20 rule, savings jars and ...

Automatic transfer

300

Roughly how much does the average American teenager spend each year on clothing, food and electronics? (You must be within $250 to get the points)

$2,331

300

What is the name of SpongeBob's best friend? 

Patrick Star!

400

Explain the 50/30/20 Rule

50% of income should go to needs

30% of income should go to wants 

20% of income should go to savings 

400

How old do you have to be to have your own credit card?

18

400

Name the three uses we gave as examples for bank accounts...

Make payments

transfer money

withdraw/deposit money

400
What percentage of teens have over $1,000 in savings? (Must be within 5% to get the points)

31.3%

400

71% of the earth is covered by this substance

Water!

500

Define Financial Literacy...

Having the skills and knowledge in make informed financial decisions

500

What determines how much you can spend on a credit card? 

Your credit limit

500

What is the difference between checking and savings accounts?

Checking: Most common type of bank account, Typically used to obtain payments, make payments, write checks and make purchases


Savings: A deposit account that pays interest and allows you to save money

500

What are the top two things that teens spend their money on?

Fast food & coffee

Clothes, shoes & accessories

500

What is the largest organ in the human body?

The skin!