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?
What is GROSS income?
Earning before deductions
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 2024?
Dwayne "The Rock" Johnson - $88 million in earnings
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.
What action positively affects your credit score?
Making payments on time
What is NET income?
Take home pay, earning after deductions and taxes have been taken out.
What risk level is a STOCK?
High Risk
Who is considered the richest musician in the world? (Male)
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
True or False: You should base your budget off your net income
TRUE
What is an investment?
An asset that you expect will increase in value over time.
ex. - Real Estate
- Stocks
- Bonds
- Commodities
Which popular Christmas song makes an average amount of $2.6-$3 million 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.
Name 2 of the 3 credit bureaus
- Experian
- Equifax
- TransUnion
Define fixed vs. variable expenses
Fixed Expenses - amount stays the same
Variable Expenses - differ/change month to month
Name two factors 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 (2009)
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 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
-Can affect the cost of a car
Name 2 tax deductions on your paystub
- Medicare
- Social Security
- Federal Tax
- State Tax
When investing you can reduce your risk by:
DIVERSIFICATION - Spreading your investments across different asset classes.
Which 2024 Disney movie surpassed the $1 Billion mark?
Inside Out 2