Unit 5 PFL

What is a Debit card?

• A debit card takes directly from your bank account. It lacks consumer protection

• A debit card sends and recieves money through bank accounts online

• A debit card is when you have to write a cashiers checks to send someone money

• A debit card is a type of credit card that allows you to borrow money up to a certain limit and pay it back later.

What is Mobile payment application?

• Take money directly from your bank account

• Sending and receiving money through carrier pigeons

• Sending and recieving payments through your car

• Sending and recieving money through bank accounts online. Money is quicly recieved and sent

Why is it important to track your income or expenses?

• who cares YOLOOOOOOO

• Reconcile( Fix) financial records

• Deductable

• Opportunity Cost

Who would be impacted negatively if they do not have an emergency saving?

• be directly impacted when unexpected expenses arise, such as medical emergencies, car repairs, or home repairs.

• High-Income Individuals

• Retirees with Stable Pensions

• People with Comprehensive Insurance Coverage

What is a potential benefit of owning a home compared to renting?

• Limited Maintance requirements

• Building equity in their property

• Monthly rent payments

• Building Equity in furniture

Once you own a car you have the ability to....?

• continue paying off the car

• get a horse

• sell or trade the car

• be exempted from car insurance

In order to own your own car you need to pay off the loan by__________________?

• buying another car

• paying monthly

• getting the car repoed

• Who cares You can walk everywhere

When you give money to organization such as "Feeding America, Make-A-Wish Foundations", You are..?

• Giving someone a raise

• Providing a job

• Getting into credit card debt

• Donating to Charity

What is Copay?

• A copay is the monthly amount paid for health insurance coverage.

• Copay is the maximum amount an individual is required to pay out-of-pocket for medical expenses in a given year.

• Copay is the amount an individual is reimbursed by their insurance company after receiving healthcare services.

• A copay is a predetermined, fixed amount an individual pays for covered healthcare services at the time of the visit, often required for doctor visits or prescription medications.

What is a deductible ?

• A deductible is the monthly fee paid for insurance coverage.

• A deductible is the initial amount that an individual must pay out-of-pocket before their insurance starts covering the remaining eligible expenses.

• The deductible represents the maximum limit to the coverage provided by an insurance policy.

• A deductible is a mandatory deposit into a personal emergency fund required by insurance companies.