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It is more flexible and allows you to make payment faster and good credit protects you from a
couple of fees
7 years
Scenario 2: PAYCHECK
Gross income is the amount of money you earn before anything is taken out for
taxes or other deductions and net income is the final amount of profit or loss after
all expenses are included.
To earn credits that enable you to qualify for Social Security benefits.
Medicare taxes are taxes you get to pay for the Medicare Hospital Insurance that youll get when
youre a senior.
How much can a high school graduate expect to earn in your area?
Banzai LS# 3
Scenario 3: Gas N GO
Quick acceleration, heavy braking, driving at higher speeds, Cold weather, frequent
short trips, Cargo or cargo racks on top of your vehicle, carrying excessive weight,
running electrical accessories, driving on rocky terrain, and using 4-wheel drive
influence your cars fuel economy.
What is the difference between paying with cash, debit, or credit cards? Discuss the pros and
cons of each form of payment.
Cash: When paying with cash you use the exact amount you need. A pro when using cash is that
it protects you from overspending. The cons of cash are that it drives you to spend more of it.
Credit cards: Are used to make transactions of high amounts of money. Pros of credit cards are
that they are used mainly for hotel bookings and car rentings. Another pro is that it helps you to
build up good credit. The cons are, carrying a balance on your credit card will result in
interest charges and can harm your credit score if the balance gets too big.
Debit: The pros of using debit is it is useful to make payments where cash is not
accepted. The cons of using debit is if you dont have enough money in the bank
and you use it you will get an overdraft fee.
Banzai LS# 3
Why does the total on the receipt differ from the total amount paid?
The total on the receipt is how much you need to pay, but the total amount is how much you have
paid.
What are effective strategies for saving money on groceries (there are 8 strategies)?
These concert tickets were expensive. What are cheaper sources of entertainment in your area?
A good way to have fun is community fair, movies, videogames, volunteer at places, go to the
library.
Banzai LS# 3
What was the impact of going to the emergency room without insurance?
Going to the emergency without insurance means you have to pay high amounts of money.
It can reduce your costs after your deductible has been meet and there is no limit.
The balance in the Reserves jar is now negative. What does this mean?
On Banzai: Why are you unable to pay the entire credit card bill?
You had to much money in debt and it made you put it in your checking account.
What are the consequences of not making a payment by the due date?
The grace period is the gap between when your credit cards billing cycle closes and
when the bill comes due
What if you ONLY made minimum payments on the entire $585 balance?
You would have to pay 24.99% interests rate every time you pay $20.00
Banzai LS# 10
You write a check for $25.00, but theres only $2.21 in your bank account. What does this mean?
This means that you have to pay an overdraft fee which means you spent more money then what
you had.
Banzai LS# 11
Why are you charged an overdraft fee? The bank could have bounced the check instead. What
would have happened then? You are charged an overdraft fee because your spending more
money then what you have. If the bank bounced the check you would have to pay a fee.
Banzai LS# 12
What is a W-4?
They will have a lot of federal income tax withheld from your pay.
Banzai LS# 13
What is an ATM?