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“Take Charge of Your Finances” Advanced Level

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

  2. 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? Spending – Did you know that spending involves a lot more than handing over money? Saving and Investing – Do you know the difference between saving and investing? Giving - Did you know that giving is a part of spending?

  3. Let’s test your money knowledge… Are you up to the challenge?

  4. Trivia Instructions • Divide into teams of 3-5 • Provide each team with a white board and a dry erase marker • Have each team create a team name and write it on the board where points are being tallied • Choose a team to select a category and point value • Read the question and allow all of the teams 10 seconds to write their response

  5. Trivia Instructions • Have each team hold their answers up at the same time • 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 total • Allow the next team to choose the category and point value • Continue until all of the questions have been answered • The team with the most money at the end wins

  6. Trivia Board Final Trivia

  7. Earning - $100 Answer: Money demanded by a government to support the government itself as well as specific facilities or services.

  8. Earning - $100 Question: What are taxes? Return to Game Board

  9. Earning - $200 Answer: 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.

  10. Earning - $200 Question: What are employee benefits? Return to Game Board

  11. Earning - $300 Answer: To pay employees with this method, employers load the funds onto an electronic plastic card that looks similar to a debit or credit card.

  12. Earning - $300 Question: What is a payroll card? Return to Game Board

  13. Earning - $400 Answer: This form is completed by the employee and determines the amount of federal income taxes that will be withheld from an employee’s paycheck.

  14. Earning - $400 Question: What is a Form W-4? Return to Game Board

  15. Receiving - $100 Answer: An organization that exists for human service, conservation, religious, or other charitable purposes to benefit others rather than to make a profit.

  16. Receiving - $100 Question: What is a non-profit organization? Return to Game Board

  17. Receiving - $200 Answer: This type of insurance provides money to pay for health care.

  18. Receiving - $200 Question: What is health insurance? Return to Game Board

  19. Receiving - $300 Answer: 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.

  20. Receiving - $300 Question: What is a premium? Return to Game Board

  21. Receiving - $400 Answer: This type of insurance provides payment to others if an insured person accidently causes harm to other people or property.

  22. Receiving - $400 Question: What is liability insurance? Return to Game Board

  23. Saving & Investing - $100 Answer: This is the minimum amount of money an individual is recommended to have in emergency savings.

  24. Saving & Investing - $100 Question: What is a minimum of 6 months of expenses? Return to Game Board

  25. Saving & Investing - $200 Answer: This is the price paid for the use of borrowed money.

  26. Saving & Investing - $200 Question: What is interest? Return to Game Board

  27. Saving & Investing - $300 Answer: 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.

  28. Saving & Investing - $300 Question: What is $250,000? Return to Game Board

  29. Saving & Investing - $400 Answer: If you purchase this you purchase a share of ownership in a corporation.

  30. Saving & Investing - $400 Question: What is stock? Return to Game Board

  31. Spending - $100 Answer: This is the maximum dollar amount that can be charged to a credit card.

  32. Spending - $100 Question: What is the credit limit? Return to Game Board

  33. Spending - $200 Answer: A longer loan period will result in the monthly payments of the loan being _____.

  34. Spending - $200 Question: What is lower? Return to Game Board

  35. Spending - $300 Answer: This may be used to determine if a person is granted credit, offered a job, or able to rent an apartment.

  36. Spending - $300 Question: What is credit history? Return to Game Board

  37. Spending - $400 Answer: 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.

  38. Spending - $400 Question: What is two days? Return to Game Board

  39. Giving - $100 Answer: This is a group of people working together for a common good.

  40. Giving - $100 Question: What is a community? Return to Game Board

  41. Giving - $200 Answer: This is a legal document that outlines a person’s wishes after death, including who they wish to receive their assets.

  42. Giving - $200 Question: What is a will? Return to Game Board

  43. Giving - $300 Answer: When a product or service is provided rather than cash.

  44. Giving - $300 Question: What is in-kind income? Return to Game Board

  45. Giving - $400 Answer: This planning includes the arrangement of one’s financial affairs to maximize the value transferred at death.

  46. Giving - $400 Question: What is estate planning? Return to Game Board

  47. Final Trivia

  48. Final Trivia Answer: This is a document that records both planned and actual income and expenses over a period of time.

  49. Final Trivia Question: What is a spending plan?