Banking
What is making a DEPOSIT?
Adding money to your bank or financial institution account.
How long do negative marks stay on your credit report?
Define fixed vs. variable expenses
Fixed Expenses - amount stays the same
Variable Expenses - differ month to month
What is delayed gratification?
The ability to resist the temptation of an immediate reward and instead wait for a greater reward in the future
Who was the highest paid actor in 2023?
Adam Sandler - Earning $73 Million in 2023.
What is the difference between a debit card and a credit card?
A debit card is linked to your existing funds, while a credit card is like a loan you need to repay.
Name at-least one of the credit bureaus
Experian, Equifax, TransUnion
What is GROSS income?
Earning before deductions
What is an investment?
An asset that you expect will increase in value over time.
ex. - Real Estate
- Stocks
- Bonds
- Commodities
Who is considered the richest musician in the world?
Jay-Z - Net worth $2.5 Billion
What is a predatory lender?
Companies that offer loans with high interest rates and hidden fees
What is considered an exceptional credit score? *hint - range*
800-850
What is NET income?
Take home pay, earning after deductions and taxes have been taken out.
What risk level is a STOCK?
High Risk
Which popular Christmas song makes an average amount of $500,000 annually since 1994?
All I want for Christmas is You - Mariah Carey
What are 2 key differences between a bank and a credit union?
- For profit vs non profit
- Stock holder owned vs member owned
- One has lower fees overall
- Credit Unions will pay a higher savings interest rate.
What positively affects your credit score?
Making payments on time
True or False: You should base your budget off your net income
TRUE
Name a factor that impacts stock prices?
- Company Earnings
- Industry Trends
- Economic Conditions
- Investor Feelings
What is the most high-grossing movie of all time? (Made the most money)
Avatar
What happens to your money if a bank or credit union gets robbed or goes out of business?
The FDIC or NCUA will cover each depositor up to $250,000.
Why is it important to have good credit score? *name all 3 reasons*
-Useful in times of emergencies
-May affect your ability to obtain a job
-Can affect your ability to rent or a buy a home
Name 2 tax deductions on your paystub
- Medicare
- Social Security
- Federal Tax
- State Tax
When investing you can reduce your risk by:
Spreading your investments across different asset classes.
Which 2024 Disney movie surpassed the $1 Billion mark?
Inside Out 2