| A | B |
|---|
| *Credit cards allow you to borrow money to pay for things | while debit cards take money straight from your own checking account |
| Wealthy people use credit cards | while people with lower incomes use debit cards |
| Credit cards come from credit unions | while debit cards come from banks |
| You can only use credit cards if you are over 25 | but you can use debit cards as long as you are over 18 |
| Credit will take the money straight from his checking account | lowering his bank balance |
| The more money you spend on purchases | the higher your interest rate will be |
| Miguel's parents keep telling him he should worry about his credit score. He says | "Why bother?" Why should Miguel care? |
| If his credit score is positive | lenders will allow him to pay back only a portion of his loan instead of the whole balance |
| On payday | take some money out to reward yourself with some fun spending |
| *Any time you get paid | set aside some portion to save before you do any spending |
| Spend money on yourself first | then your immediate family |
| Will my teachers be excited if I buy this item | or will they be disappointed? |
| $80 | minus any taxes she has to pay |
| $80 | plus any taxes she has to pay |
| Brandon receives his paycheck | and it says his gross pay is $250 and his net pay is $200. How much money did he have in deductions this pay period? |
| Your net pay will always be higher | so you'll have more money to spend |
| Your employer knows what your gross pay is | but you only know what your net pay is |
| Once you have your net pay | you can figure out how much to deduct in taxes |
| $15 | 921.52 |
| $1 | 307.76 |
| *$2 | 000.00 |
| $30 | 078.48 |
| 46 | 000.00 |
| People who budget earn more money | so they can live a better life |
| *A budget puts you in control of your spending and saving | so you make good decisions and feel more confident |
| You can't really budget unless you have an important job | which means that other people look up to you |
| Budgeting is extremely easy | so once you set it up |
| Needs are worth spending money on | but you should never spend on a want |
| Needs can be very expensive | but wants are usually far less expensive so you don't need to keep track of them |
| *When you budget | you should make sure all your needs are met first |
| What is one of the most basic | yet powerful |
| *Your savings account will earn interest | so the money in your account will grow without you doing anything |
| Your savings account lets you write checks or pay bills easily | while it's more difficult to use your checking account |
| Your savings account allows you to use online banking | while checking accounts require you to visit the bank branch |
| Your savings account has high fees attached to it | while your checking account does not |
| *Your savings account has a limit of 6 withdrawals per month | while your checking account does not |
| Your parents need to help you open a savings account | but you can open a checking account without them |
| Far fewer banks offer savings accounts | while far more banks offer checking accounts |
| As a teenager opening a savings account | which two features are MOST important for you to have in your account? |
| When you open your first savings account | you will need to bring each of these things EXCEPT... |
| Prepaid cards can be used to shop online | but gift cards cannot |
| Prepaid cards are made of plastic | but gift cards are usually cardboard |
| *Prepaid cards can be used at many different stores | but gift cards are usually for a specific store |
| Prepaid cards are only for people without checking accounts | but gift cards are for everyone |
