Presentation Transcript

1. Can You Survive?

   Understanding banking and credit.
2. Learning Objectives The youth will be able to: Define credit Understand the difference between good and bad credit Correctly fill out a check, deposit slip, and check register
3. Credit Basics Credit is the ability to borrow money Buy now, pay later Be aware of interest charges Depends on: Principal Term Interest rate
4. Interest Charges
5. Credit Benefits vs. Risks Good credit makes life easier Financial flexibility More opportunities Too easy to mess up Late fees Overspending Loss of opportunities
6. Your Score and Credit Report Your Credit Score Determines how likely you are to get a loan Your Credit Report is free once every twelve months Equifax Experian TransUnion Don’t pay if you don’t have to
7. Your Credit Report
8. What’s On It? Basic demographic info Name SSN Current and former addresses Open and closed accounts Credit history Review regularly to check for errors and fraud
9. Why is it Important? You give others permission to look at it Employers Loan applications Apartment application Credit card applications (including store CC) Negative information stays on in it for 7 years
10. What if it’s Wrong? Notify the reporting agency Copies (not originals) supporting documentation Clearly identify errors State facts request deletion or correction of incorrect information
11. What if it’s Wrong? Notify the business or creditor Send same information sent to the creditor that provided information to the Credit Bureau Agency must reinvestigate Incorrect information will be deleted or corrected
12. Take it to the Bank Opening an account Which bank What type of account Provide personal information 2 forms of ID Cash for deposit Benefits of your account
13. Watch Yo’ Money Deposit slips Checks Check register
14. Filling Out a Check H A B C D F E G
15. Filling out a Deposit Slip
16. Tracking your Money
17. Bank Statement

18. Financial Survivor

    Can your team outwit, outplay and outlast your opponents to be the ultimate Survivor?

19. Meet the Tribes

    MoolaBread C-noteScrila Benjis Grip

20. Immunity

    Use your immunity idol to pass on a question or challenge. You must surrender the idol once it is used.

21. Challenges

    Each time you get a question right, you get a challenge and a chance at bonus points.

22. The Final Challenge

    The secret final challenge will be revealed at the end of the game for additional points. Good Luck Survivors!

23. Question One

    How long can negative financial information stay on your credit report? Answer

24. Answer One

    Seven (7) years! Challenge Question

25. Challenge One

    Name the three credit bureaus. NEXT QUESTION

26. Question Two

    Name three items that are taken out of your paycheck, before you get it. Answer
27. Challenge Question

    Answer Two

    Federal/state income tax, Social Security, Medicare contributions

28. Challenge Two

    How much Federal income tax was deducted during this pay period? NEXT QUESTION

29. Question Three

    Name two things you must have to open a bank account? Answer

30. Answer Three

    Identification and money to deposit Challenge Question

31. Challenge Three

    On April 24, 2012 you purchased a new outfit from Macy’s with a check. Pants $22.99 Shirt $17.99 Shoes $35.99 Subtotal = $76.97 Tax = $3.46 Fill out the check for your purchase. NEXT QUESTION

32. Question Four

    If you do this when you write a check, you will always know your account balance. Answer

33. Answer Four

    Use your check register. Challenge Question

34. Challenge Four

    Reconcile the Account! NEXT QUESTION

35. Question Five

    Your bank statement will show Current amount in account Amount in account at time statement was printed Up to date list of withdrawals and deposits All of the above Answer

36. Answer Five

    b. Amount in account at time statement was printed Challenge Question

37. Challenge Five

    Name three Kanye West songs. NEXT QUESTION

38. Question Six

    When you receive goods and services now, and pay for them later, you’re using: Answer

39. Answer Six

    Credit Challenge Question

40. Challenge Six

    You received five birthday cards with the following enclosures! $75 in cash $50 check #123 $35 check #526 $25 in cash $25 check #725 Deposit half into your checking account and get half back in cash. Fill out the deposit slip. NEXT QUESTION

41. Question Seven

    What is stored in the magnetic strip on the back of your credit/debit card? Answer

42. Answer Seven

    Your account number Challenge Question

43. Challenge Seven

    Name three things you should not use when choosing a PIN number. NEXT QUESTION

44. Question Eight

    To correct a debit or ATM transaction error you must notify your financial institution within: Answer

45. Answer Eight

    60 days Challenge Question

46. Challenge Eight

    Name 3 services available through online banking. NEXT QUESTION

47. Question Nine

    When deciding to purchase an item, the best thing to ask yourself is? Answer

48. Answer Nine

    Do I need this? Challenge Question

49. Challenge Nine

    Name three Avengers (from the movie). NEXT QUESTION

50. Question Ten

    How often can you request to see your credit report for free? Answer

51. Answer Ten

    Once a year. Challenge Question

52. Challenge Ten

    Name the four coaches from The Voice. NEXT QUESTION

53. Question Eleven

    What is it called when you spend more money than what is in your account? Answer

54. Answer Eleven

    An overdraft. Challenge Question

55. Challenge Eleven

    Justin just found a job with take-home pay of $2200 per month. His expenses are: Rent: $800; Groceries: $200; Transportation: $200; Clothing: $100; Restaurants: : $150; Miscellaneous: $250 How long will it take him to save $1000? NEXT QUESTION

56. Question Twelve

    What is the maximum amount you can be forced to pay if someone steals your credit card? Answer

57. Answer Twelve

    According to Federal Law up to $50 as long as you notified issuer as soon as you noticed care was missing. Challenge Final Challenge

58. Challenge Twelve

    Name four potential sources of income. Final Challenge

59. Final Challenge

    Fill out the given checks, deposit slips, and register to balance your checkbook!

60. Putting it TogetherDetermine how many points your team will risk. Complete the final challenge.

61. Congratulations!

    You have survived!
62. SurvivorCreated by Lora O’Neill and Bridget S. 2/6/2006email: themathelk@hotmail.comAdapted from Template TCEA 2002Music from freeplaymusic.comwww.be-a-gameshow-host.wikispaces.com