SS7E10 Personal Finance and Financial Literacy

Imagine Scarlett, Ethan, and Rohan are playing a game where they earn coins for every hour they work on their lemonade stand. This earning is called (a)   .

• Taxes
• Interest
• Income
• Credit Card

Imagine Grace, Emma, and David are stranded on a deserted island. Which item is absolutely necessary for their survival?

• Food

• A boat

• Movie ticket

• An xbox

Imagine Luna, Evelyn, and Priya are planning a fabulous treasure hunt but they need to manage their gold coins wisely. A budget is... (select all that apply)

• The total gold coins they find at the end of their adventure.

• A map estimating the income (gold coins found) and expenses (gold coins spent) for their quest.

• The price of the magical insurance protecting their loot for the year.

• A magical tool to help them manage their treasure wisely.

Imagine Kai, Aiden, and Olivia are planning a grand adventure! Why do you think they're sitting down to create a budget first? (Pick all the reasons that sound right to you!)

• It can help them reach their savings goals for all the cool stuff they want or need on their journey.

• It can help them make smarter choices with their money, so they have more for fun adventures.

• It can help them understand their spending habits, so they can save up for a big treasure!

• It can help them keep an eye on their neighbor's spending... just kidding, that's not it!

• It can help them land a dream job as treasure hunters... well, maybe not, but it's a fun thought!

Imagine Benjamin just got his first credit card! How does it work?

• Benjamin loads the card with his own money.

• It's a magical card with unlimited funds and Benjamin never has to pay it back.

• It's like a loan! Benjamin borrows money and pays it all back in one big party at the end of each month.

Imagine Ethan just realized he missed his credit card payment deadline! What might be the consequences of this financial faux pas? (Pick all that apply)

• Interest added to his future payments

• Grace decides to give Ethan silent lunch as a penalty

• Olivia warns him his credit scores might go down

• Extra money magically appears in his checking account

Imagine Sophia has just opened her first savings account. What might the bank do with the money Sophia deposits?

• Transform it into a magnificent sculpture in the lobby

• Allow Sophia to withdraw it anytime with her shiny new debit card

• Spend it on a grand party for all their customers

• Use it to grant loans to other customers like Ava and Charlotte

Imagine Henry and Anika are having a friendly debate. Henry says that if you only pay small amounts of your credit card bills, you might find yourself swimming in a sea of debt. Anika isn't so sure and thinks it might not be that serious. Who do you think is right? (a)  

• Henry
• Anika

Imagine Abigail, Samuel, and Isla are competing in a 'Savings Showdown'! Over time, what does the money in their savings account grow thanks to?

• Interest

• Internet

• Debt

• Nothing

Imagine William, Evelyn, and Aria are on a shopping spree. They want to buy a bunch of cool stuff but can only use a debit card. This card is paid by or linked to their...

• Pet fish

• Savings account

• Budget

• Checking account