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Scenario 1: Rent

Why is good credit important when renting an apartment?

Good credit is important when renting an apartment because credit cards can be flexible.

?? (Health Insurance provides important financial protection in case you have a serious accident
or sickness. People without health coverage are exposed to debt or even bankruptcy.)

Approximately, how much does it cost to rent an apartment in your area?

About $3,000.

What happens if you cant pay your rent?

There may be a late fee.

How long does an eviction stay on your credit history?

Seven Years.

Why would you want to have renters insurance?

It works to cover your personal possessions.

Answer in WORD and attach your document to this assignment.

Scenario 2: PAYCHECK

What is the difference between gross and net income?

Gross income is the amount that a business earns from the sale of goods or services, before
selling, administrative, tax, and other expenses have been deducted, but net income is the residual
amount of earnings after all expenses have been deducted from sales.

Why do we pay Social Security taxes?

Social Security taxes we pay go to Social Security benefits. We pay Social Security taxes based on
our earnings.

What are Medicare taxes for?

Medicare tax withholding goes to pay for the Medicare Hospital Insurance (HI) that youll get
when youre a senior.

How much can a high school graduate expect to earn in your area?

A high school graduate makes $28,000 a year.


What are the benefits of using direct deposit?

1. Saves time
2. Helps save money
3. No delay in getting your money.

Answer in WORD and attach your document to this assignment.

Banzai LS# 3
Scenario 3: Gas N GO

What factors influence your cars fuel economy?

1. Aggressive Driving
2. Driving at higher speeds
3. Cold Weather
4. Towing a trailer/carrying excessive weight
5. Driving on hilly or mountainous terrain
6. Using 4-wheel drive

Answer in WORD and attach your document to this assignment.

Scenario 4: ATM WITHDRAWAL

What is the difference between paying with cash, debit, or credit cards? Discuss the pros and cons of
each form of payment.

Cash-

Pros:

1. Avoid overspending

Cons:

1. For some people, in can lead to undesired spending.


2. Cash can be stolen easily and gone for good.

Credit Card:

Pros:

1. Convenient for some purchases


2. Some purchases require a credit card
3. Safe and easy way to build credit
4. Protected if credit card is stolen
Cons:

1. Can harm credit score if balance gets too big

Debit:

Pros:

1. Can pay for things where cash isnt accepted


2. Protected if stolen
3. Some banks allow you to lock your debit card if it gets stolen

Cons:

1. If you try to spend more than you have, bank may charge you an overdraft fee.

Answer in WORD and attach your document to this assignment.

Banzai LS# 3

Scenario 5: FLY AWAY CAF

Why does the total on the receipt differ from the total amount paid?

Tips or Taxes?

What is an appropriate tip at a restaurant?

15-20%

For what other services is tipping appropriate?

Travel or Salon/Spa. Traveling: Taxi Drivers. Salon/Spa: 15-20%

Answer in WORD and attach your document to this assignment.

Scenario 6: RITEPRICE GROCERY

What are effective strategies for saving money on groceries (there are 8 strategies)?

1. Ask for advice.


2. Eat before you shop.
3. Read the sales flyer.
4. Use coupons-but only for items youll use.
5. Look up and down for savings.
6. Check for store brands.
7. Grab from the back.
8. Ask for a rain check.
9. Join your stores loyalty program.
10. Think outside the store.
Answer in WORD and attach your document to this assignment.

Scenario 7: Community Spectrum Expo Center

These concert tickets were expensive. What are cheaper sources of entertainment in your area?

1. Free museums
2. Read
3. Movies
4. Take kids to the community playground
5. Go to the park
6. Ride a bike
7. Go for a walk
8. Get some friends together
9. Live music
10. Potluck or progressive dinners with friends.
11. Local theater
12. Local historical sites, battlefields, or historic homes
13. Swim
14. Lectures
15. Free magazines
16. City
17. Art galleries
18. The library
19. Craft events
20. The local bookstore
21. Community festivals
22. Parades
23. Holiday celebrations
24. Camp
25. Church
26. Animal shelter
27. Zoo or aquarium
28. Board games, cards, and puzzles
29. Inexpensive hobby
30. Pick/cut your own Christmas tree
31. Farmers market
32. Public gardens
33. Business tours
34. Free/low cost classes
35. Minor league, college or high school sporting events
36. Join a club
37. Listen to podcasts
38. Take the dogs to the dog park
39. Dont overlook the obvious attractions of your area
40. Keep cheap entertainment
41. Go to the mall
42. Recapture childhood with kids
43. Yard sales
44. Write a letter
45. Free computer games
46. Music
47. County or state fairs
48. Video games
49. Local arts center
50. The senior center
51. Know what youve already paid for
52. Volunteer for something you find fun

Answer in WORD and attach your document to this assignment.

Banzai LS# 3

Scenario 8: MERCY CENTRAL HOSPITAL

What was the impact of going to the emergency room without insurance?

It can sometimes lead to debt or even bankruptcy.

What are the benefits of having medical insurance?

Reduced costs

The balance in the Reserves jar is now negative. What does this mean?

It means you dont have health insurance or youre in debt.

Answer in WORD and attach your document to this assignment.

Scenario 9: Amalgamated Bankcard Services

On Banzai: Why are you unable to pay the entire credit card bill?

Because I was in debt and spent too much.

What are the consequences of not making a payment by the due date?

Youll have to miss your mortgage, credit card, utility, auto loan, cell phone, or student loan payment.

What is a grace period?


A grace period is the provision in most loan and insurance contracts that allows payment to be received
for a certain period of time after the actual due date.

What if you ONLY made minimum payments on the entire $585 balance?

24.99% interest with a minimum payment of $20 .00

You would have $565??

Answer in WORD and attach your document to this assignment.

Banzai LS# 10

Scenario 10: City Parking Authority

You write a check for $25.00, but theres only $2.21 in your bank account. What does this mean?

Youll be in debt or have to pay from something else? Or youll get an overdraft fee??

Answer in WORD and attach your document to this assignment.

Banzai LS# 11

Scenario 11: OVERDRAFT FEE

Why are you charged an overdraft fee?

Because I didnt have enough money in my checking account.


The bank could have bounced the check instead. What would have happened then?

The person you wrote a check for may charge you a returned check.

Answer in WORD and attach your document to this assignment.

Banzai LS# 12

Scenario 12: PAYCHECK

Watch the video on the link!

What is a W-4?

You can get it at IRS.GOV/W4

What happens if you ask your employer to withhold too much?

You need to fill a new W-4??

Answer in WORD and attach your document to this assignment.


Banzai LS# 13

Scenario 13: ATM Withdrawal

What is an ATM?
A machine that dispenses cash or performs other banking services when an account holder inserts a
bank card.

How do you avoid fees?

Find a no-ATM-fee checking account or switch to a better big bank.

Answer in WORD and attach your document to this assignment.

Banzai LS# 14

Scenario 14: Our Town Convenience Store

Is gasoline tax the same, higher, or lower than sales tax?

Lower?

Answer in WORD and attach your document to this assignment.

Banzai LS# 15

Scenario 15: BANK STATEMENT

According to the Banzai scenario Why doesnt the bank statement show all of your checking account
transactions?

Because they werent made on the certain time constraint they show.

Which transactions are missing from this statement?

Jan 4, Jan 5

How can you verify the current balance of your account?

Maintaining a paper check register or leveraging mobile and online banking tools.

Answer in WORD and attach your document to this assignment.


Banzai LS# 16

Scenario 16: Tax ReFUND

What might you do with a tax refund?


Start or Increase Your Emergency Fund
Pay Off High-Interest Debt
Spend It On Something You Need
Start Itemized Savings Accounts
Refinance Your Mortgage or Make Home Improvements
Invest in a Tax-Sheltered Account
Invest in a Taxable Account
Donate to Charitable Causes
What are the benefits of an emergency fund?

1. If someone you love does pass away suddenly


2. Your roof starts leaking
3. Jobs
4. doctor

How large should your emergency fund be?

$6,000??

Answer in WORD and attach your document to this assignment.

Banzai LS# 17

Scenario 17: TRADER MOES

Higher-quality food costs more. What are some ways to eat healthily on a budget?

Buy more greens, choose fresh or frozen over canned, or eat it if you can grow it.

Junk food is the cheapest, but is it the best choice?

Only if you are that hungry, but try to stick to growing vegetables.

Answer in WORD and attach your document to this assignment.

Banzai LS# 18

Scenario 18: Auto loan

Use Banzai Life Scenario: How was the monthly interest payment on the auto loan calculated?

It had a 9.00% interest rate.


How was the monthly principal payment calculated?

Divide 9.00% by 12?

How long will it take for you to pay off this car, and how much will you be paying in interest over the life
of this loan?

9% interest?? And it will take a year?

What happens if you fail to make your auto loan payments?

Youll have to modify your auto loan.

What happens when you have a poor credit score?


Having a poor credit history or a low credit score can seriously affect you financially. One thing that can
happen is that you could be denied credit. A low credit score indicates to lenders that you are a high-risk
borrower and they may not be willing to lend you money.

Answer in WORD and attach your document to this assignment.

Banzai LS# 19

Scenario 19: Paycheck

Rolands Bookstore pays its employees weekly. On what


other pay schedules do employers operate?

Semi-monthly and monthly.

Answer in WORD and attach your document to this assignment.

Banzai LS# 20

Scenario 20: Twin Oaks Factory Outlets

Buying clothing is fun, but also expensive. What are ways to get quality clothing for less?

Consignment stores, thrift stores, yard sales, or host a clothing swap.

Answer in WORD and attach your document to this assignment.

Banzai LS# 21

Scenario 21: Aristotles Garden

It can be difficult to eat healthily while traveling. What are ways to avoid eating a junk food during trips?

1. Bring your own snacks


2. Eat cereals or low sugar foods
3. Drink lots of water and skip soda.

Answer in WORD and attach your document to this assignment.

Banzai LS# 22

Scenario 22: Tesla Electric Company

Many people are surprised when they see the utility bill for a new home or apartment. How can you
reduce the amount you pay each month?

Use less utilities?

Answer in WORD and attach your document to this assignment.

Banzai LS# 23

Scenario 23: The Hit N Run Truckstop

Transportation costs (fuel, maintenance, etc.) are among the top expenses for young people. How can
you keep from going broke when you need a car?

Dont use transportation for un-needed things. Use a bike if you want to get to a grocery store, and a car
if the distance is farther.

Answer in WORD and attach your document to this assignment.

Banzai LS# 24

Scenario 24: Horizon Wireless

Going over your minutes is expensive. How can you avoid that mistake?

Limit the time you spend.

Answer in WORD and attach your document to this assignment.

Banzai LS# 25

Scenario 25: Paycheck

Rolands Bookstore pays you an hourly wage. What other forms of pay can employees receive?

Some offer extra pays, flexible schedules, or professional development.

Answer in WORD and attach your document to this assignment.


Banzai LS# 26

Scenario 26: Super-Mart

What is sales tax used for?

School aid fund, general fund, revenue sharing, transportation fund, and health initiative.

Answer in WORD and attach your document to this assignment.

Banzai LS# 27

Scenario 27: Bank Statement

Use Banzai: Which transaction is missing from this statement?

Uncleared transactions.

Why doesnt this check appear on the statement?

Because it is uncleared

Your checking statement says you have $867.40 available in your account. Banzai says you have
$659.80. Which is right?

Banzai.

Answer in WORD and attach your document to this assignment.

Banzai LS# 28

Scenario 28: Always-Safe Insurance

Why is it important to be personally insured?

You can save a lot later, it saves time and inconvenience when accidents happen, and its typically the
law.

What are the penalties for driving without auto insurance?

Car accidents, financial risks, and getting car insurance.

What is the difference between liability and collision insurance?


Bodily injury liability auto insurance covers the costs of injuries to others deemed the fault of the
policyholder, but does not cover the vehicle of the policyholder. (Collision insurance does cover it)

Answer in WORD and attach your document to this assignment.

Banzai LS# 29
Scenario 29: Diegos Taco Shop

Compulsion or addiction spending is ruinsome. How much could a bad habit really cost you?

1. Missed work
2. Increased car, health, life and other premium costs
3. Loss of income
4. Medical costs
5. Opportunity costs of life experiences or education lost while spending time searching for and
using drugs or other addictive substances
6. Legal bills or other legal problems

Answer in WORD and attach your document to this assignment.

Banzai LS# 30

Scenario 30: Amalgamated Bankcard Services

Use Banzai: Because you made only the minimum payment, there was an interest charge on this bill.
How can avoid this in the future?

Dont overspend.

How is the minimum payment calculated?

Its 4% of the monthly payment.

The total balance on this credit card is $442.42. How long will it take you to pay the card off in full if you
only pay the minimum monthly payment of $20?

22 Months

Answer in WORD and attach your document to this assignment.