“take charge of your finances” advanced level

Take Charge of Your Finances Course Introduction Trivia“Take Charge of Your Finances” Advanced Level

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 2Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

How do you interact with money?

Earning – Did you know that working at a job isn’t the only way to earn money?

Receiving – Have you ever received a gift from a relative or friend?

Saving and Investing – Do you know the difference between saving and investing?

Spending – Did you know that spending involves a lot more than handing over money?

Giving - Did you know that giving is a part of spending?

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 3Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Let’s test your money knowledge…

Are you up to the challenge?

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 4Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Trivia Instructions

1. Divide into teams of 3-52. Provide each team with a white board and a dry

erase marker3. Have each team create a team name and write it

on the board where points are being tallied4. Choose a team to select a category and point value5. Read the question and allow all of the teams 10

seconds to write their response

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 5Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Trivia Instructions6. Have each team hold their answers up at the same

time7. Award every team who answered the question

correctly the money value indicated by the question• If the answer is incorrect the money value may be deducted

from the total8. Allow the next team to choose the category and point

value9. Continue until all of the questions have been answered10. The team with the most money at the end wins

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 6Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Trivia BoardEarning Receiving Saving and

Investing Spending Giving

$100 $100 $100 $100 $100

$200 $200 $200 $200 $200

$300 $300 $300 $300 $300

$400 $400 $400 $400 $400

Final Trivia

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 7Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Earning - $100Answer:

Money demanded by a government to support the government itself as well as specific facilities or services.

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 8Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Earning - $100Question:

What are taxes?

Return to Game Board

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 9Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Earning - $200Answer:

Products or services provided by an employer that adds extra value for employees beyond

wages paid. Examples include health insurance, retirement

contributions, and paid sick leave.

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 10Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Earning - $200Question:

What are employee benefits?

Return to Game Board

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 11Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Earning - $300Answer:

To pay employees with this method, employers load the

funds onto an electronic plastic card that looks similar

to a debit or credit card.

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 12Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Earning - $300Question:

What is a payroll card?

Return to Game Board

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 13Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Earning - $400Answer:

This form is completed by the employee and determines the

amount of federal income taxes that will be withheld from an

employee’s paycheck.

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 14Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Earning - $400Question:

What is a Form W-4? 

Return to Game Board

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 15Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Receiving - $100Answer:

An organization that exists for human service, conservation, religious, or other charitable purposes to benefit others

rather than to make a profit.

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 16Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Receiving - $100Question:

What is a non-profit organization?

Return to Game Board

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 17Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Receiving - $200Answer:

This type of insurance provides money to pay for health care.

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 18Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Receiving - $200Question:

What is health insurance? 

Return to Game Board

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 19Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Receiving - $300Answer:

This money is paid to an insurance company or organization to

purchase an insurance policy. The payments are usually paid monthly,

semi-annually, or annually.

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 20Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Receiving - $300Question:

What is a premium?

Return to Game Board

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 21Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Receiving - $400Answer:

This type of insurance provides payment to others if an insured person accidently causes harm

to other people or property.

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 22Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Receiving - $400Question:

What is liability insurance?

Return to Game Board

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 23Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Saving & Investing - $100

Answer:This is the minimum amount of

money an individual is recommended to have in

emergency savings.

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 24Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Saving & Investing - $100

Question:What is a minimum of 6 months

of expenses?

 Return to

Game Board

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 25Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Saving & Investing - $200Answer:

This is the price paid for the use of borrowed money.

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 26Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Saving & Investing - $200

Question:What is interest?

Return to Game Board

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 27Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Saving & Investing - $300Answer:

The standard amount of money the Federal Deposit Insurance

Corporation (FDIC) will restore to a lost account if a depository

institution covered by FDIC fails.

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 28Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Saving & Investing - $300Question:

What is $250,000?

Return to Game Board

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 29Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Saving & Investing - $400Answer:

If you purchase this you purchase a share of ownership

in a corporation.

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 30Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Saving & Investing - $400Question:

What is stock?

Return to Game Board

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 31Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Spending - $100Answer:

This is the maximum dollar amount that can be charged to a credit card.

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 32Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Spending - $100Question:

What is the credit limit?

Return to Game Board

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 33Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Spending - $200Answer:

A longer loan period will result in the monthly payments of

the loan being _____.

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 34Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Spending - $200Question:

What is lower? 

Return to Game Board

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 35Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Spending - $300Answer:

This may be used to determine if a person is granted credit,

offered a job, or able to rent an apartment.

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 36Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Spending - $300Question:

What is credit history?

Return to Game Board

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 37Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Spending - $400Answer:

The amount of time you have to report your debit/ATM card

lost/stolen in order to be liable for only $50.00 in fraudulent

charges.

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 38Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Spending - $400Question:

What is two days?

Return to Game Board

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 39Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Giving - $100Answer:

This is a group of people working together for a common good.

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 40Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Giving - $100Question:

What is a community?

Return to Game Board

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 41Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Giving - $200Answer:

This is a legal document that outlines a person’s wishes after death, including who they wish

to receive their assets.

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 42Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Giving - $200Question:

What is a will? 

Return to Game Board

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 43Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Giving - $300Answer:

When a product or service is provided rather than cash.

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 44Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Giving - $300Question:

What is in-kind income?

Return to Game Board

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 45Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Giving - $400Answer:

This planning includes the arrangement of one’s financial affairs to maximize the value

transferred at death.

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 46Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Giving - $400Question:

What is estate planning?

Return to Game Board

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 47Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

FinalTrivia

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 48Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Final TriviaAnswer:

This is a document that records both planned and actual

income and expenses over a period of time.

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© Family Economics & Financial Education –May 2012– Take Charge of Your Finances Course Introduction – Slide 49Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona

Final TriviaQuestion:

What is a spending plan?