Road Safety
Deposits
withdrawal
loans
buying a house
100
stop sign
100
Does a deposit help you save money or send money?
Save money.
100
what is a withdrawl?
100
What makes a good borrower?
Returning money, or anything that you have borrowed from someone.
100
What kind of loan is taken out to buy a house?
A mortgage
200
Social distance sign
200
What is a savings account?
A bank account where one stores their money.
200
what is an ATM?
A machine that helps you take money out of your savings account.
200
What is a loan?
Money borrowed from the bank.
200
How long does it take someone to typically pay off a mortgage?
15 years.
300
Do not enter - traffic goes one way
300
What is a deposit
Putting money into your savings acount
300
Do withdraws help you spend or save your money?
Spend your money.
300
what does it mean to have good credit?
You are responsible for paying money back and will be able to get a loan.
300
What happens if I buy a house that is over my budget?
I will be in debt.
400
Slippery when wet
400
When would you have to make a deposit?
when you need to put money such as a check or cash in your savings account.
400
When would you have to make a withdraw?
When buying something.
400
what is interest?
the amount of money the bank charges the borrower, on top of the money that the borrower must pay back so the bank makes money (basically your loan plus extra money)
400
WHen buying a house, should you focus on wants or needs to stay in your budget?
Needs, so that you can pay bills.
500
yield sign
500
If I have $40.00 in my savings account and I need to deposit a check for $290.00, how much will be in my savings account?
$330.00
500
If I have $500.00 in my savings account and I need to take out $40.00 how much will I be left with?
$460.00
500
Each monthly payment is split into two parts: What are they?
Loan and interest.
500
I want to buy a house that is $200,000. I have $50,000 saved so far. How much money will I need to take out in a loan?
$150,000 in loans.