Compensation
How much do you make an hour working here?
What is $15/ hour.
When talking about a purchase, what is the difference between a want and a need?
A need: A purchase that is essential for life and survival.
A want: An Unnecessary purchase, not essential to life.
What is a Budget?
What is A financial plan that balances income and expenses over a set period of time.
Which Career makes more on Average?
CEO of Google or NBA Player?
What is an NBA Player.
NBA Player: 10 Million/Year
CEO of Google: 2 Million/Year
True or False: A deposit is anytime you take money out of your account.
What is False.
Deposit: Any money that goes in to your account
Withdrawal: Any money that you remove from your account.
True or False: We (IBA) take taxes out of your paychecks.
What is False.
We do not take any taxes out of your check!
True or False: Housing is considered a "Need"
What is True.
Housing is considered to be a fundamental need for human life.
True or False: "Income" is one of the elements of a budget.
What is True.
Which Career makes more on Average?
A plumber or a Professional Ballet Dancer?
What is a Plumber.
Plumbers: $85,000
Ballet Dancer: $65,000
This is the amount in your account after deposits and withdrawls are made
What is an Account Balance.
What is the amount of 1 full paycheck, given you've worked every day those weeks?
($15/hour, 5 hours/day, Bi-Weekly Checks)
What is $750.
Jose got a free ticket to the Red Sox game. He does not own any merch and is thinking to buy a Jersey to wear at the game to not look/feel left out.
Is the Jersey a want or a need?
What is a want.
No matter how much he might feel as if the merch is essential for the game, he does not need to to get in/ have a good time.
(Use Examples)
Fixed: Expense that does not change over time (Phone bill, rent)
Variable: Expenses that can change with time (food, entertainment)
Which Career makes more on Average?
Dentist or Mayor of Boston
What is Mayor of Boston.
Mayor: $250,000
Dentist: $200,000
True or False: A Debit Card and a Credit Card do the same things.
What is False.
(Explain the difference)
True or False: You get your pay docked if you are late enough to work.
What is True.
You and your group of friends have been working out at Planet Fitness and you have been making gains. The group is opting to switch to Equinox gym, a heavy price increase but your friends are saying the amenities are worth it. You hate working out alone but would have to make serious life changes to afford the new gym.
Is switching gyms a want or a need?
What is a want.
Although you hate working out alone, you still can get a workout in or find other people to work out with at your same gym.
What is the "Golden Rule" or the percentage of your income you should be saving?
What is 20%.
70/20/10 Rule
70% -Expenses 20% Savings/Investments 10% Debt
Which Career makes more on Average?
YDP Coordinator or Certified Nursing Assistant (CNA)
What is a YDP Coordinator.
CNA: $50,000
YDP Coordinator: ... More than that.
What is the name of the type of bank account that pays you monthly for just keeping your money in it?
What is a High Yield Savings Account.
What is the total amount of money you'll make this summer if you miss 2 days, and were 4 total hours late throughout the summer cycle?
(You get 3 paychecks a cycle)
What is $2,040.
Frederico was playing in the park with his friends and really beat up his sneakers. Its his only pair of shoes, and he has his sisters graduation party that he was planning on wearing them to. He has 100 dollars to his name and doesnt get paid until next week.
Is buying new sneakers a want or a need? (Explain Your Answer)
What is...It depends.
If they are broken, there are a lot of options under $100 that are still fly.
If they are just dirty, you can give them a nice wash and restore them best you can.
What is the tool you use to help track of your income and expenses?
What is a Budget Sheet.
Which Career makes more on Average?
Golf Ball Diver or Odor Tester?
What are Odor Testers.
Odor Testers: $100,000
Golf Ball Divers:$45,000
What is the term for when you spend more money than what you have available in your account?
What is an overdraft?