Finance

Finance

Multiple Choice

Finance includes

• earning money

• spending money

• saving money

• all of the above

Poll

What is your comfort level in terms of understanding finance? BE HONEST!

• I need help!

• I am okay...

• I think I can make good financial decisions but would like to learn more

• I know a lot about finance

Multiple Choice

You should get a bank account when

• never- under your mattress is the best place to keep money

• whenever you start saving money

• when you are 18

• when you want to buy a something you cannot afford

Start a relationship with a bank

• As soon as you get a bank account, you are starting to build your financial reputation

• This is the start to building a good credit score

• Saving money is a very healthy habit to build, even if it is just a very small amount.

Multiple Select

A good habit is to (choose two answers)

• "Pay yourself first" - save 10% from each pay cheque

• Fulfill your wants first

• Spend all your money, YOLO!

• Think twice before you spend money

Get used to saving

• Put money into your savings account right away

• If you have money left after paying your bills, clearing debt, think hard about what you spend your remaining money on

Multiple Select

When you choose your bank you should think about (choose all answers that apply)

• what they are giving away as a free gift

• asking your parents and friends for advice

• comparing fees and terms of acceptance

• convenience, hours and online banking options

Picking a bank

-Convenience, location, hours

-Fees and Terms

-Online Banking options

-Consider Credit Unions

Multiple Choice

A Budget is

• Tells you how much you can spend

• Is plan for spending and saving

• Something you make when you are an adult

• A good idea but not necessary

Budgeting

• Make a plan

• Try to follow it

• Adjust it if necessary

Multiple Choice

Credit is

• the ability to borrow money

• when someone owes you money

• limitless

• what comes after the movie is over

Multiple Choice

Your credit score is

• not very important

• can stop you from being able to rent/buy a home

• only important when you move out

• how much money you make

Multiple Choice

You really want a bigger TV but do not have the money for it. You should

• Buy it with a credit card

• Wait until you have money to buy it

• Get a store credit card

• Borrow money from a friend

Multiple Choice

A credit card

• lets you spend money one month but you need to pay it back the next month to avoid interest costs

• is free money

• charges low interest if you cannot pay it back on time

• is the best way to borrow money long term

Multiple Choice

Which of these options is the most expensive way to get money you do not have

• a credit card

• asking a friend

• Money Mart

• line of credit

Multiple Select

Interest is (two correct answers)

• when you like something

• taxes

• money earned on money

• the cost for borrowing money