Financial Literacy from Banzai

You walk outside only to find that your car has been towed because you were parked illegally. You paid the towing company with a check and took this unexpected expense from which budget?

• Entertainment

• Utilities

• Reserves

A budget is .....

• The same thing as a savings account.

• A sum of money to be used for a particular purpose

• A list of things you want

A debit card is...

• Like a credit card, but it takes money directly from your checking account.

• A card that lets you by goods and services based on a promise to pay later.

• A card which you may only make online purchases with.

A credit card is ....

• A card that lets you buy goods and services based on a promise to pay later.

• A card that charges monthly interest if the balance is not paid in full.

• Both answers a and b.

A checking account is....

• A sum of money to be used for a particular purpose.

• A share in a corporation that gives you a stake in the company and its profits.

• An account where the depositor can write checks.

A savings account.....

• An account where money is stored and returns a low interest rate.

• The same thing as a checking account.

• An account that allows you to borrow money at a rate of interest.

You have $200.00.How do you keep track of it.

• Put in your savings account.

• Stick it under your bed for safekeeping.

• Budget it by splitting it amongst your current and future expenses.

What's it called when you spend more than you make?

• Transfer

• Debt

• Withdrawal

Why open a checking account?

• It's a safe place to store money.

• It lets you use a debit card.

• It makes it easy for you to pay others and for others to pay you.

• All of the above.

You're dying to see The Flaming Eyelashes in concert this summer. What's the best way to cop a few tickets?

• Put it on your credit card and pay later.

• Ask your parents for tickets as a "Thanks for being the best kid ever' present.

• Add "Entertainment" to your budget and allocate some cash there every week.

• Take money from your other budget categories until you have enough.