Banking
What is making a DEPOSIT?
Adding money to your bank or financial institution account.
This is the average length of time for negative marks stay on credit reports
7 Years
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
This multi-talented performer, born in Hayward CA, was the highest paid actor in 2024.
Dwayne "The Rock" Johnson
Earning an estimated $88 Million in 2024, according to Forbes
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 one of the 3 major 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
This biographical musical composed by Lin-Manuel Miranda in 2015, which blends hip-hop, R&B, and traditional Broadway styles has won numerous awards, including 11 Tony Awards, a Pulitzer Prize, and a Grammy.
Hamilton: An American Musical
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
This popular Christmas song first released in 1994 earns around $2.5 million in royalties annually.
All I want for Christmas is You
by 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
Frankly, my dear, I do really care that adjusted for inflation, this is the highest-grossing film of all time (made the most money).
Gone with the Wind
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 possible payroll deductions on a paystub.
- Medicare
- Social Security
- Federal Income Tax
- State Income Tax
- Retirement Account Contribution (401k)
- Union Dues
When investing you can reduce your risk by not putting all your eggs in one basket.
Diversification
Spreading your investments across different asset classes.
One of the 3 films that have won 11 Academy Awards (Oscars).
Ben-Hur (1959)
Titanic (1997)
The Lord of the Rings: The Return of the King (2003)