BANKING
A FINANCIAL INSTITUTION WHERE YOU DEPOSIT, WITHDRAW MONEY AND APPLY FOR LOANS ETC
WHAT IS A BANK ?
THIS RECORD KEEPS TRACK HOW WELL YOU PAY YOUR BILL OR AN ADULT FINANCIAL REPORT CARD
WHAT IS YOUR CREDIT SCORE ?
A PLAN THAT SHOW YOU WHERE YOU SPEND YOUR MONEY
WHAT IS A BUDGET ?
SOMETHING THAT IS NECESSARY FOR SURVIVAL OR TO LIVE
WHAT IS A NEED ?
THE TERM FOR THE COST OF BORROWING MONEY, EXPRESSED IN % ? (HINT I_______)
WHAT IS INTEREST ?
A TERM FOR A CARD ISSUED BY A BANK THAT ALLOWS A CARDHOLDER TO WITHDRAW THEIR MONEY OR MAKE PURCHASES USING FUNDS FROM THEIR BANK
WHAT IS A ATM/DEBIT CARD
NAME 3 NEGATIVE FACTORS THAT CAN AFFECT YOUR CREDIT SCORE
WHAT IS MISSED PAYMENTS, SHORT CREDIT HISTORY,USED OVER 50% CREDIT CARD LIMIT, LATE PAYMENTS,TOO MANY CREDIT CARDS OR LOAN, CLOSED ACCOUNTS
To spend more money than expected
What is overspending or getting into debt ?
SOMETHING THAT YOU DO NOT HAVE TO HAVE, BUT IT WOULD BE NICE TO HAVE. ENJOYMENT !
WHAT IS A WANT ?
YOU MUST PAY YOUR BILL BEFORE THIS DATE
WHAT IS A DUE DATE OR PAYMENT DATE ?
Name 1 types of teen bank accounts
What are teen checking and savings or joint account?
NAME 2 THINGS THAT ARE REPORT TO THE CREDIT COMPANIES
CREDIT CARD, MORTGAGE, CAR LOAN, STUDENT LOAN PAYMENTS, BANKRUPTCY
THIS INCLUDES ALL THE MONEY YOU EARN ?
Hint I___
WHAT IS INCOME ?
BUYING BASIC CLOTHING AND SHOES
WHAT IS A NEED ?
CHARGES TO USE AN ATM, ACCOUNT MAINTENANCE, MONEY ORDERS, OVERDRAFT. ( Hint BF)
WHAT ARE BANK FEES ?
A DOCUMENT THAT SHOWS ALL THE TRANSACTIONS THAT HAVE OCCURRED IN A BANK ACCOUNT OVER A SPECIFIC PERIOD OF TIME ( Hint BS)
WHAT IS A BANK STATEMENT ?
NAME 3 THINGS TO HELP IMPROVE YOUR CREDIT SCORE ?
WHAT IS PAYING BILLS ON TIME, USING LESS 30% OF CARD CREDIT LIMIT, KEEPING OLD CREDIT CARD OPENED, HAVE FEW CREDIT CARDS, LONG CREDIT HISTORY
THESE ARE THE COST ASSOCIATED WITH YOUR DAILY LIVING EXAMPLE RENT, GROCERIES, UTILITIES,
Hint E____
WHAT ARE EXPENSES ?
BRAND NAMED CLOTHES & PURSES, SMARTPHONE, A PET, CAR, LAPTOP, JORDANS
WHAT ARE WANTS ?
NAME 3 THINGS IN A LOAN AGREEMENT
WHAT IS DATE OF LOAN, LOAN AMOUNT, REPAYMENT DATE, CONSEQUENCES OF NON PAYMENT ?
3 THINGS NEEDED TO OPEN A TEEN BANK ACCOUNT
WHAT ARE ID, MONEY, PARENT CONSENT, SOCIAL SECURITY NUMBER, APPOINTMENT, PROOF OF ADDRESS, AGE LIMIT ?
A TERM FOR THE MAXIMUM AMOUNT OF MONEY A BANK IS WILLING TO LEND A BORROWER ON A CREDIT CARD ? HINT CL
WHAT IS CREDIT LIMIT ?
A GIFT OF MONEY OR ITEMS GIVEN TO HELP OTHERS
WHAT IS A DONATION ?
LIST ALL THE FOUR NEEDS
WHAT ARE FOOD, SHELTER,WATER, CLOTHES ?
THE DATE THAT DETAILS ALL CREDIT CARD TRANSACTIONS, CHARGES AND PAYMENTS ON A CREDIT CARD ( HINT S.C.D)
WHAT IS A STATEMENT CLOSING DATE ?