Credit/Debit Cards
A ____ card deducts money directly from a person’s checking account?
Debit
How old is insurance?
Over 4000 years old
What is a sales tax?
Paying extra money for items that goes towards local, state wide, or national governments.
What is debt?
Something typically money that is owed or due.
Who is king of financial freedom?
Dave Ramsey
True or False: Do you use your own money for a credit card?
False, a Credit Card uses borrowed money.
True or false, Julia Roberts smile was insured for over $30 million
True
Do taxpayers get refunds/benefits for overpaying taxes?
Yes this can often happen.
How do you get into debt?
You go over the allowed/owed money and you go into the negatives.
True or false, the largest bill ever printed in the USA was $100?
What year was the first Debit Card invented?
1975
What is insurance?
Insurance is basically a safety net where you pay an agency and they back you up if something happens.
What is the sales tax in Minnesota?
Roughly 8%
Can debt be good?
Yes
What percentage of people say they would rather enjoy life now then save for life later?
41%
Around what time was credit first used?
1700s-1800s
Does Starbucks coffee pay more for employee health or coffee?
Coffee
Name 3 kinds of taxes
Income tax, sales tax, payroll taxes
Difference between secure and insecure debt
Secured your backed by a lender while unsecured you are not backed up by a lender.
Is paper money actually made of paper?
No
You should pay your entire ____ on your credit card to avoid interest.
Balance
Is there insurance on alien abduction?
Yes
When was the first known tax created?
3000-2800 BCE
The average American household with credit card debt owes between $____ and $9,000.
$7,000
What percentage of Americans say they couldn't pay a $1,000 emergency expense?
56%