powerpoint game-young adults & money

100 100

200

300

400

500

100100 100 100100 100 100 100

200 200 200 200

300 300 300 300

400 400 400 400

500 500 500 500

100 100 100

Identity Theft

Predatory Lending

Wheeling & Dealing

Saving & Investing

Credit Tips & Traps

The Money…What Young Adults Need to Know Game

The Answer is:

Example of an auto safety feature.

The Question is:

What is airbags or anti-lock braking system (ABS) brakes?

The Answer is:

Example of an auto maintenance expense.

The Question is:

What is tires, oil change, car washing?

The Answer is:

The most common type of auto financing.

The Question is:

What is dealership financing?

The Answer is:

A disadvantage of auto leasing.

The Question is:

What is not owning the car at the end of the lease, the need to keep car in good condition, various lease expenses, and mileage limits?

The Answer is:

Part of auto insurance policy that covers legal obligations to others.

The Question is:

What is liability coverage?

The Answer is:

Interest earned on both principal and interest from previous periods.

The Question is:

What is compound interest?

The Answer is:

Formula used to estimate how long it takes for savings to double.

The Question is:

What is “The Rule of 72”?

The Answer is:

The time that it takes a sum of money to double at 6% interest.

The Question is:

What is 12 years?

The Answer is:

The interest rate that it takes to double money in 8 years.

The Question is:

What is a 9% interest rate?

The Answer is:

A good reason for saving money

The Question is:

What is having money for unexpected expenses, to stay out of debt, to reach financial goals, and for peace of mind ?

The Answer is:

The cost of using someone else’s money.

The Question is:

What is interest?

The Answer is:

Type of credit that allows borrowers to repay as much or as little as they want as long as they make the minimum payment.

The Question is:

What is revolving credit?

The Answer is:

Cash or property pledged by a borrower to secure a loan.

The Question is:

What is collateral?

The Answer is:

Name of one of the three major national credit bureaus.

The Question is:

What is Equifax, Experian, and Trans Union?

The Answer is:

Fee charged for taking a cash loan from a credit card.

The Question is:

What is a cash advance fee (e.g., 3% of the amount borrowed)?

The Answer is:

The stealing of a victim’s personal information to commit a crime.

The Question is:

What is identity theft?

The Answer is:

A way that a victim’s personal information can be stolen.

The Question is:

What is stealing wallets, stealing mail, “dumpster diving,” posing fraudulently to gain info, stealing work records, and using info at home and on the Internet ?

The Answer is:

A way to reduce the risk of having personal information stolen.

The Question is:

What is destroy documents with sensitive information, avoid giving out SS #, guard mail from theft, not carrying lots of ID, be cautious with personal info at home & work?

The Answer is:

Frequently stolen identification number that is often used as an ID number and should not be carried around.

The Question is:

What is a Social Security number?

The Answer is:

Inexpensive home office appliance that can reduce the risk of identity theft.

The Question is:

What is a shredder?

The Answer is:

High cost loans that are deceptively marketed to vulnerable populations.

The Question is:

What are predatory loans?

The Answer is:

Expensive type of loan where borrowers pay a fee to cash a postdated check.

The Question is:

What is a payday loan?

The Answer is:

Expensive purchase method where people rent new or used items, usually for 78 weeks, and pay several times the retail cost.

The Question is:

What is a rent-to-own plan?

The Answer is:

Place where people can get immediate cash by turning over items such as jewelry and watches to hold as security for a loan.

The Question is:

What is a pawnshop?

The Answer is:

Place that people can contact to check on the reputation of a particular lender.

The Question is:

What is the Better Business Bureau or a state or local consumer protection agency?