Understanding Financial Challenges

What are some of the primary monthly expenses mentioned in the video?

• Field trips and lunch money

• Luxury vacations

• Designer clothes

• Gourmet dining

What is one of the main reasons Justin struggles financially despite having a good job?

• He spends too much on luxury items

• He lacks access to traditional banking services

• He doesn't work enough hours

• He invests poorly

What financial strategy did Alex and Melissa adopt to avoid bank fees?

• Using credit cards

• Living on cash

• Investing in stocks

• Taking out loans

What is a major downside of using check cashers?

• They offer high interest rates

• They are only open on weekends

• They charge fees for cashing checks

• They require a credit check

What is a payday loan designed for?

• Buying a new car

• Investing in real estate

• Long-term financial planning

• Immediate financial relief until the next paycheck

What happens if a payday loan is not paid off by the next paycheck?

• The loan is rolled over with additional fees

• The borrower receives a bonus

• The loan is forgiven

• The borrower is arrested

What is a common consequence of relying on payday loans?

• Increased savings

• A cycle of debt

• Financial independence

• Improved credit score

Underserved Americans (people living paycheck to paycheck) spend the same percent of their income on fees and interest to banks as the typical American family spends on groceries. That amounts to how much a year?

• $100

• $2.4 million

• $89 billion

• $15,000

After watching this documentary, tell me what you are thinking. What surprised you? What shocked you? What does this make you feel? Does this change the way you think about anything? Record your reactions below. No one else will see this so you can be open and honest.