How does someone choose a bank? - ANSWER Make sure the clients
understand the different bank accounts, the terms of the accounts, etc
What is a Credit Union? - ANSWER a non-profit financial institution...not
designed to make profit only
What is FDIC? - ANSWER Federal Deposit Insurance Company - Designed to
protect your money. Insures accounts at FOR-PROFIT financial institutions
What is NCUA? - ANSWER National Credit Union Administration - Insures
accounts at credit unions
True or False: All bank accounts are FDIC insured. - ANSWER False
What is the FDIC/NCUA insurance limit per account ownership type? -
ANSWER $250,000
What is the purpose of a budget? - ANSWER To make a plan for your money
How should you budget for Variable Expenses? - ANSWER Estimate low for
income and high for expenses
How long should you track your expenses before creating a budget - ANSWER
30 days
True or false: Failure to stick with a budget is always due to lack of self-control
- ANSWER False
How can you help a client whose expenses are greater than income? -
ANSWER Help them find ways to increase income or reduce expenses, find
community resource, guide them through which bills are pertinent to pay and
the ramifications of having to skip certain payments
understand the different bank accounts, the terms of the accounts, etc
What is a Credit Union? - ANSWER a non-profit financial institution...not
designed to make profit only
What is FDIC? - ANSWER Federal Deposit Insurance Company - Designed to
protect your money. Insures accounts at FOR-PROFIT financial institutions
What is NCUA? - ANSWER National Credit Union Administration - Insures
accounts at credit unions
True or False: All bank accounts are FDIC insured. - ANSWER False
What is the FDIC/NCUA insurance limit per account ownership type? -
ANSWER $250,000
What is the purpose of a budget? - ANSWER To make a plan for your money
How should you budget for Variable Expenses? - ANSWER Estimate low for
income and high for expenses
How long should you track your expenses before creating a budget - ANSWER
30 days
True or false: Failure to stick with a budget is always due to lack of self-control
- ANSWER False
How can you help a client whose expenses are greater than income? -
ANSWER Help them find ways to increase income or reduce expenses, find
community resource, guide them through which bills are pertinent to pay and
the ramifications of having to skip certain payments
