Mindful Monday | Credit, debit and bears... OH MY | Interesting... | Credit SCOREEEE!!! | Random! |
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Made our own stress balls!
What did we do for Mindful Monday this week?
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Debit Card- your actual earned money
Credit Card- Borrowed money
Difference between Credit Card and Debit Card?
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Savings accounts, loans, credit cards
In your own words, what is interest and where can it be applied?
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A number you are given based on your financial decisions. The likelihood you will pay someone back.
What is a credit score?
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21!!!
How old is Sander turning today!?
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ANYWHERE!
Work, home, outside, school, in bed, out shopping, etc.
Name 3 places you can practice mindfulness
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Checking account
What account is your credit card linked to?
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Savings accounts earn interest as a "thank you" for using the bank. You end up making more money.
How does interest affect you and your savings account?
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BAD: 300
GOOD: 850
Give an example of a GOOD credit score number and a BAD credit score number
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Happy Birthday Sander!!!!
Unscramble!
phpya dirahbty dsnear!!! |
Many answers acceptable.
Include: bringing your thoughts into the present moment, not the future.
You are starting to feel anxious while you are shopping for a party this weekend. How do you practice mindfulness to calm down?
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Big expenses, emergency expenses, expenses you know you will be able to pay back
Name 3 GOOD reasons to use a credit card
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Loans accrue interest as a fee for borrowing money. You end up paying more money.
How does interest affect you and your loan?
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Landlords, creditors/lenders (loans), employers, etc.
Who checks your credit score and why?
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Jamaican Bobsled Team
Fill in the blank:
Jamaican _________ Team |
TRUE
Yoga is a great way to help your mind focus on the present moment
True or False
Yoga is considered a mindful activity |
FALSE
The information in your credit report is used to create your three-digit credit score, which is the number that lenders use to determine how likely you are to repay (or not repay) your debts.
TRUE OR FALSE
Your credit report and credit score are the same thing. |
Simple interest is calculated on JUST the original amount of money. (Principal)
What is simple interest?
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Get a credit card and starting making purchases BUT PAY THEM OFF!
What is a great way to build credit?
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Mix half and half, sugar, vanilla in bag
Put bag in second bag with ice and salt Shake until firm
How do you make ice cream in a bag?
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???
What should we do for next week's Mindful Monday?
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FALSE
Your debit card is tied directly to your bank account, and that means that no matter how long you’ve been a responsible debit card user, your credit score won’t be affected either way.
TRUE OR FALSE
Responsible debit card use will increase your credit score |
Compound interest is calculated on the original amount AND ALSO on the accumulation of previous periods.
"Interest on Interest"
What is compound interest?
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False
Credit reporting agencies are private companies, not government agencies. The big three are Experian, TransUnion, and Equifax.
TRUE OR FALSE
Credit reporting agencies are government agencies |
The salt lowers the temperature at which water freezes. When a freezing point is lowered, such as by adding salt, the process is called freezing-point depression.
Why did we mix salt and ice?
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