Coin Values
Write a list of how to make a dollar with: a penny, a nickel, a dime, and a quarter.
100 pennies, 20 nickels, 10 dimes, 4 quarters
This is a card that you can use at an ATM and is connected to your checking and/or savings account.
Debit or ATM Card
This is a 9 personalized and private 9 digit number that you can use to open bank accounts. You also have to provide this number to your employer when submitting working papers for a job.
Social Security Number
True or False: All credit cards are bad and people should never get them.
Be prepared to explain your response.
False. Answers may vary.
Why is it important to budget your money and keep track of your checking and savings account?
Make sure you are saving enough, you can pay bills, make sure no one is using your card
What is one way to make $0.80 using coins?
8 dimes, 3 quarters and a nickel, 3 quarters and 5 pennies
This means "to put money in" to your account.
Deposit
This means "to take money out" of your account.
Withdraw
Briefly explain how someone can get their own credit card.
Apply, credit score is checked, if approved, they send you a card in the mail
Explain a situation where a person may want to use a credit card instead of a debit card.
Answers will vary.
Answers may vary.
What are some necessary personal expenses someone may have to budget for if living on their own?
Groceries, gas, rent, electric bill, cell phone bill
Explain one way you can access money from your account.
ATM, write a check, go to the bank
What is a reason your credit card may get rejected/declined when you pay?
Your bill is overdue, it may be blocked due to fraudulent charges, you may have maxed it out
Explain a situation where a person may want to use a debit card instead of a credit card.
Add: 2 quarters, 1 dime, and 3 pennies
$0.63
If you deposit money into your account, what will happen to your current balance?
It will increase/go up.
What will happen to your balance if you withdraw money from your account?
It will decrease/go down.
Explain what may happen if you do not pay your credit card bill on time.
Credit company will call you, you will be charged a late fee, your credit score may go down.
Explain why you should never share your social security number with someone.
How can you make $0.90 using as few coins as possible
3 quarters, 1 dime, 1 nickel
What does it mean to go "paperless"?
You do not receive any bills or information in the mail. You must check all information online.
What is the difference between automatic payments and making a one-time payment?
Automatic- the same amount is paid on the same day of each month, One-Time- a person has to manually submit a payment
Explain a few types of rewards you can get from using your credit card.
Miles for flight, free hotel, cash back
Need- bills such as cell phone, rent, groceries, furniture, electric, new/work clothing if it is old or worn out
Want- recreational or leisurely activities