Net Worth
Give one example of an asset and one example of a liability. Label each.
Asset: Cash, stock, car
Liability: Credit card debt, home mortgage, unpaid loan
How do we write 5% as a decimal?
0.05
What are tax withholdings?
a. Taxes you do not have to pay
b. Money taken from your paycheck for future taxes
c. Taxes that can be put off a year
d. Money added to your paycheck to help pay taxes
b
If no one wanted to buy bitcoin anymore, how much would the coin be worth?
$0
Cryptocurrencies have no inherent value
Give one example of a want and one example of a need. Label both.
Many possible answers.
Need: food
Want: Nintendo Switch 2
When calculating net worth, would student loans be considered an asset, a liability, or neither?
Liability
How can we write 2.5% and 125% as decimals?
0.025
1.25
True or false: While the actual taxes themselves are higher for people with greater incomes, taxes are withheld at the same rate, regardless of income.
False
When you pay your taxes, where is the first place that money goes?
To the government, federal or state
True or false: If Company A sells stock each worth $25, and Company B sells stock each worth $100, Company B must have higher profits.
False
If I take out a $2 million loan to buy a $2 million house, how much has my net worth increased by?
DAILY DOUBLE (Random question, and only the closest group doubles their points)
What is the current value of one bitcoin?
True or false: Tax withholdings vary by state.
True
Name one thing tax dollars pay for.
Schools
Police
Roads
Medical Research
Military
Postal Service
Any Government Jobs
Give an example of an unexpected expense that may a person may be unprepared to pay for.
Medical troubles
Car troubles
Plumbing, electric, or other household issues
When calculating net worth, would next month's electric bill be considered an asset, a liability, or neither?
Neither
Bobert and Tebby got lunch together. Bobert got $4 fries and 14 burgers (he was hungry). Tebby got 2 burgers and a $1.50 drink.
If their total was $85.50, how much did each burger cost?
$5
What is a tax refund?
Extra money withheld for tax purposes that is returned to you after you finish paying taxes.
Name one type of tax other than income taxes.
Sales
Estate / inheritance
Property
Capital gains
What two main factors determine the price of any given stock?
a. The company's profits
b. The impact of the DOW Jones and S&P 500
c. Last year's stock price
d. Total number of shares
DAILY DOUBLE
What does the S&P 500 measure?
You are planning a trip and want to park at the airport…
The daily parking option has a base fee of $8 and a daily fee of $3.
The weekly parking option has a base fee of $15 and a daily fee of $18.
Which plan would cost less for 1 week? 2 weeks? 3 weeks?
Daily
Daily
Weekly
For someone earning $50,000 in Minnesota, total withholdings would be $1,192.50 plus an additional 27.15% of your total income. In total, how much money would be withheld?
$14767.50
Since bitcoin has no central bank nor server, what keeps the currency running?
Thousands of volunteer computers all across the world.
Give one example of an asset that might appreciate in value and one example of an asset that might depreciate in value. Label both.
Many answers:
Appreciate: stocks
Depreciate: car or chocolate bar