Banzai-Financial Literacy

Name an example of income

• Your allowance.

• Birthday money.

• Money you make from a job.

• All of the above

You must hire someone to help you at your lemonade stand.

Which sentence below is a true business statement?

• Your helper makes the best lemonade.

• You'll need to split the money you earn.

• You can totally pay your help in cups of lemonade.

• You'd be better off working alone.

If lemons cost $0.69, what's the best way to pay for two? (Hint: What is .69 x 2=?)

• A dollar bill, two dimes, and two nickels.

• Five quarters

• A dollar bill, two dimes, one nickel, and three pennies.

• A dollar bill, a quarter, a dime, and three pennies.

What's the best way to pay for business expenses?

• Taking a loan from your parents.

• Using your allowance money.

• Using money made from your business.

• Using supplies from your mom's pantry.

What is a logical strategy for spending less on your lemonade stand?

• Using fewer lemons per jug of lemonade.

• Find the best deal on supplies.

• Fire your helper and run the stand yourself.

• Sell fewer glasses of lemonade.

What is interest?

• Something you like to do after school.

• The amount you pay the bank to open a savings account.

• Money the bank pays you to keep your money in the savings account.

• A business expense.

Why would you want to open a savings account?

• To save for more expensive items or goals.

• to keep money safe for emergencies.

• To see your money grow with interest added over time.

• All of the above.

What is sales tax?

• The change the cashier gives you once you've paid.

• The money you have left over after shopping.

• What you pay your state government when you buy things.

• None of the above.

What's the best way to pay for an emergency business expense?

• Take money out of your savings account, even if it sets you back from your goals.

• Ask you parents to chip in. What's another IOU?

• Just ignore the emergency. It'll go away on its own.

• Get another job, quickly!

If you fall short of a goal, what should be your next move?

• Forget about it. It's impossible to save up.

• Treat it like an emergency purchase. You need that bike.

• Ask your parents for more money next summer.

• Just keep working on your goals.