How Money SMART are you?

Which of the following statements is NOT correct about most ATM cards?

• You can get cash anywhere in the world with NO fee.

• You must have a bank account to have an ATM card.

• You can generally get cash 24 hours a day.

• You can generally find out your bank account balance at an ATM.

You cannot have a credit card until you area 21 years old.

• True.

  Banks realize our brains haven't fully matured until at least 21

• False.

  Many teens have credit cards around 18 or 19 years old.

Some research has said "Teens spend about ______ dollars in America each year.

• 15 Billion

• 25 Billion

• 75 Billion

• 84 Billion

You don't have to pay back any credit card debt until you have graduated from college.

• True

• False

Most millionaires are college graduates.

• True

  4 out of 5 are college graduates.

• False

  It's simply all about how hard you work.

Most millionaires work fewer than 40 hours per week.

• True.

  They average 25 - 30 hours a week at the most.

• False.

  They usually work at least 45 - 55 hours a week.

Most Millionaires drive brand new high dollar value cars.

• True.

  Most millionaires; cars cost at least $125,000

• False.

  Most millionaire drive used cards. Predominately Fords.

The average college graduates earn more than high school graduates earn.

• Yes.

• No.

Once you declare bankruptcy it......

• clears your entire financial history and gives you a fresh brand new start.

• it stays on your record for 10 years making it tough to get a job or make other big purchases.

Do you believe a high school freshman in the U.S.A. should get a weekly allowance from their caregivers?

• Yes.

  Always. It's their right as their kid.

• No.

  It's not a right but more so a privilege.

• You should get allowance if you work for it like doing your chores or making decent grades.

• What's an allowance?