Insurance
Even though you’re a pretty healthy person, you still visit the doctor about three times a year. What type of insurance can help reduce your expenses?
Health Insurance
A credit score is a three-digit number, typically between 300 and 850, designed to represent your credit risk, or the likelihood you will pay your bills on time. Credit scores are calculated using information in your credit reports, what are the 6 components?
1. Payment History
2. Credit Utilization
3. Derogatory Marks
4. Age of Credit History
5. Total Accounts open
6. Hard Inquiries.
You are going to the rental office to look at and apply for your first apartment. What are some key things to bring with you? (4 possible answers)
1. Pay stubs/bank statements
2. Security deposit payment
3. Personal forms of ID (driver's License, social security card)
4. Camera (for walkthrough purposes)
You don't have any internet access on your phone and there is no local shops with free Wifi available. What resource can you call to get general information?
411
Everyone needs eight hour of sleep. Myth or Truth?
Myth. Everyone is different. Everyone has a unique circadian rhythm that determines how much sleep is optimal for them. Seven to nine hours is the recommended. You should treat sleep like hydration and exercise: get enough so you feel your best and keep your body healthy, but not so much it starts impacting you negatively.
You’re married and worried about how your spouse could afford to live if something were to happen to you. What type of insurance would help protect your spouse if you were to pass away?
Life Insurance
What are the major types of fees associated with credit cards? (6 possible answers)
1. Interest/APR
2. Annual Fees
3. Late Payment Fees
4. Cash Back Fees
5. Balance Transfer Fees
6. Foreign Transaction Fees
You are looking for a place that fits within your limited budget. The amount you spend on rent should be no more than what % of your income?
You are cleaning your kitchen, when you notice a cockroach run under the fridge. What steps do you take to prevent an infestation in your home?
Identify what is attracting cockroaches to your home (dirty dishes left overnight? crumbs on the floors and counters? lot of garbage sitting overnight? open containers in the kitchen?). You get rid of cockroaches by thoroughly cleaning your home, washing and putting away dishes, seal food containers, remove grease from stove, and mopping on a regular basis. Call exterminator.
Fortune cookies originated in California. Myth or Fact?
Fact. A Japanese immigrant, Suyeichi Okamura, who ran a confectionary store in Northern California during the early 1900's was the creator of the fortune cookie.
You just moved into your first apartment. You’ve spent a lot of money on furniture and things for your house. What type of insurance will help you repair or replace your things if you’re living in a place you don’t own?
Renter's Insurance
Two truths and a lie.
1. 52% of Americans are spending more than they earn every month.
2. 1 in 4 Americans have more debt than savings.
3. Paying off a loan ahead of time will improve your credit score.
Paying off a loan ahead of time can hurt your score! One reason is that open positive accounts have a greater impact on your credit score than closed accounts, because open accounts show lenders how well you're managing your credit right now—not in the past. But there are other factors to consider. However, the drop in credit is usually temporary.
Name three essential utilities you need to pay when living on your own.
Gas, Water, Electric.
You are visiting a friend's house and when using their bathroom, the toilet begins to overflow. Emergency! What do you do?
First, turn off the water supply located at the back of the toilet. Mop up any water that has spilled to avoid damage to the floors. Seek out a plunger to properly clear the plumbing.
Sugar causes headaches. Myth or Fact?
Myth. It's not the sugar itself causing the headache; it's the rapid drop in your blood sugar levels. For some people, eating a carbohydrate heavy meal causes excess production of the sugar regulating hormone insulin, which in turn makes glucose levels drop resulting in headache.
You live in a very dry area that has a high risk of forest fires. What type of insurance could help you repair your house and replace your valuables if they were damaged in this situation?
Homeowner's Insurance
What are three steps to better money management?
1. Create a budget.
2. Establish a savings account.
3. Tackle your debts.
The golden rule of moving out indicates that you should save up how much money prior to moving out?
Three times your expenses/month's rent. If rent is expected to be $1,000/month, it would be practical to save at least $3,000.
Emergency! You are driving to your friend's house, when you notice the temperature gauge shows your car is starting to over heat.
Immediately turn off the air conditioner to reduce stress on the engine. Find a safe place to pull over and let your car cool. Check your coolant levels when your car is cool. Add coolant if needed. Water works as a temporary solution.
Sunscreen is only for summer or when the sun is out.
Myth! Sunscreen is a critical part of year round skin care and should be worn everyday regardless of weather or sun coverage. Sunscreens with a broad SPF can block both UVA and UVB rays that can be harmful to your health.
You were in a skiing accident and can’t work for a few months. What type of insurance would make sure you still receive an income?
Disability Insurance
You are now knowledgeable about money management and financial terms. Your friend is just starting to manage their finances, and knows nothing about credit and debit terms. How you explain credit cards vs. debit cards to them?
Various possible answer;
Debit cards: Using your own money from your checking account
Credit card: Borrowing money from the bank(debt) that you have to pay back. Any left-over balances will accumulate interest fees.
You are ready to start looking for an apartment! What are some things to consider when starting your search? (5 possible answers)
1. Your budget.
2. Your credit score/limitations (felonies, pets, age, etc.)
3. Desired location/amenities.
4. Your commute.
5. Shared living space requirements/expectations
You were cooking dinner, when suddenly it turns into a grease fire. Emergency! What do you do?
Don't put it out with water! A grease fire needs to be smothered with lid or you can throw baking soda on it.
Dark circles around the eyes are not a sign of being tired.
Truth! Discoloration around the eyes occurs when blood and fluids aren't circulating correctly. It could also mean that you are lacking in iron or aren't getting enough oxygen. Dark circles are also more prominent on thinner skin, which naturally occurs when you age.