Financial Literacy "fun fun fun!"

Question 1

At a 20% off sale how much would you pay for an item that was originally $100?

Accepted Answer

$80

Question 2

What is a credit card?

Accepted Answer

Easily accessible borrowed money with interest, Something that can easily create large debt with

Question 3

What does the BSB number stand for?

Accepted Answer

Bank State Branch

Question 4

Nathan earns $150 a fortnight and pays $20 a week in board. What is left over in a fortnight?

Accepted Answer

$110

Question 5

What is the MoneySmart web address?

Accepted Answer

www.moneysmart.gov.au

Question 6

Why is it important to correctly fill out a Tax File Number Declaration Form?

Accepted Answer

It is a legal document declaring your details and tax number, To have the correct amount of tax withheld from your pay

Question 7

Where can you go for help if you're in financial trouble?

Accepted Answer

Financial counselling hotline 1800 007 007, MoneySmart website, A financial councellor

Question 8

David hurt himself and can't work, he can't pay his mobile contract, what should he do?

Accepted Answer

Contact the service provider and discuss, ask for hardship measures to help

Question 9

When borrowing money, what does the "interest" mean?

Accepted Answer

The cost to you for the borrowed money.

Question 10

What is the MINIMUM deposit amount for a home loan application?

Accepted Answer

5%

Questions 10