Scenario 1: Rent

Why is good credit important when renting an apartment?

Good credit is important when renting an apartment because it can help with unexpected emergency
expanses and give you the flexibility to pay them over time.

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

About $3,000 dollars.

What happens if you cant pay your rent?

If you cant pay your rent, you may be required to get a cosigner (guarantor), someone that shares
financial responsibility for the lease, so if you cant make the payment, they will.

How long does an eviction stay on your credit history?

http://www.practicalmoneyskills.com/personalfinance/creditdebt/history/

Why would you want to have renters insurance?

http://www.practicalmoneyskills.com/personalfinance/experts/practicalmoneymatters/column
s/rentersInsurance_020808.php

Answer in WORD and attach your document to this assignment.

Scenario 2: PAYCHECK

What is the difference between gross and net income?

http://www.fool.com/investing/2016/10/20/3-healthcare-stocks-that-are-looking-cheap.aspx

Why do we pay Social Security taxes?

We pay Social Security taxes because in return, we receive benefits that can provide us income when we
need it most, such as retirement, family benefits or even if we become disabled.

What are Medicare taxes for?

Medicare taxes pay for the Medicare Hospital Insurance that youll get when youre older.

How much can a high school graduate expect to earn in your area?
A high school graduate can expect to earn at least thousands a year.

What are the benefits of using direct deposit?

Direct deposit can save you time, help you save money, and you get 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?

Cold weather, frequent short trips, cargo or cargo racks, towing a trailer, carrying excessive weight,
running electrical accessories, driving on hilly or mountainous terrain/unpaved roads, and using 4-wheel
drive can all influence your cars fuel economy.

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: Great way to avoid overspending and is also essential businesses that are cash-only or have credit
card minimums.
Cons: If cash is stolen, it most likely is gone forever, and it causes people a temptation that leads to
undesired spending.

Debit Cards:
Pros: Provides easy record keeping, and the money you spend comes out of your checking account, so
its good way to avoid spending more money than you have. It also protects you if youre card is stolen.
Cons: You may be charged with an overdraft fee if youre checking account does not have enough
money in it. Also, some businesses will place a hold on your account for more than the purchase
amount, and youll want to make sure you have enough money in your account once to cover any holds
after the held funds are released.

Credit Cards:
Pros: Convenient because for some purchases, a card payment may be required. A growing number of
transactions that once required cash can now be paid via credit card. Its a safe and easy way to build
good credit and many credit cards can offer you rewards. A credit card also makes sure that youre
protected if its stolen.
Cons: Carrying a balance will result in interest charges that can harm your credit score if it gets too big.

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?
The total on the receipt differs from the total amount paid because the total amount paid includes the
tip and tax.

What is an appropriate tip at a restaurant?

An appropriate tip at a restaurant is $10-$20 for the host or maitre d and 15-20% pre-tax for wait
service.
For what other services is tipping appropriate?
Tipping is appropriate when traveling and going to the salon/spa.

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
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?
Free museums
Read
Movies
Take the kids to a community playground
Go to a park
Ride a bike
Go for a walk in your neighborhood
Get some friends together
Live music
Potluck or progressive dinner with friends
Local theater
Local historical sites, battlefields, or historic homes
Swim
Lectures
Free magazines
The city
Art galleries
The library
Craft events
The local bookstore
Community festivals
Parades
Holiday celebrations
Camp out
Church
The animal shelter
 Zoo or aquarium
Bored games, cards, or puzzles
An inexpensive hobby
Pick your own produce or cut your own Christmas tree
The farmers market
Public gardens
Business tours
Free/low cost classes
Minor league, collage, or high school sporting events
Join a club
Listen to podcasts
Take the dogs to a dog park
Obvious attractions in your area
Keep cheap entertainment for your kids
Go to the mall
Recapture a little of your childhood with your kids
Yard sales/flea markets
Write a letter
Free computer games
Music
Country/state fairs
Video games
Local arts center
The senior center
Know what youve already paid for
Volunteer for something

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?
Going to the emergency room without insurance makes your total cost a lot higher than without
insurance and could lead you into deep debt or even bankruptcy.

What are the benefits of having medical insurance?

Having medical insurance can

Reduce costs after you meet your deductible

Out-of-pocket maximum
No yearly or lifetime limits

The balance in the Reserves jar is now negative. What does this mean?
It means that you are 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?
What are the consequences of not making a payment by the due date?
By not making a payment by the due date, you can be charged with interest.

What is a grace period?

A grace period is the gap between when your credit cards billing cycle closes and when the bill comes
due. Depending on how you time your credit card purchase, you could have more than 50 days to pay
before you have to think about interest by taking advantage of the grace period.

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

24.99% interest with a minimum payment of $20.00

Number of months to pay off: 46
Final months payments: $11.53
Total finance charge: $326.53
Total cost: $911.53

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?
It means that youll be charged for a bounced check and the charges will vary.

Answer in WORD and attach your document to this assignment.

Banzai LS# 11

Scenario 11: OVERDRAFT FEE

Why are you charged an overdraft fee?

You were charged with an overdraft fee because you either wrote a check, withdrew money from an
ATM, used your debit card to make a purchase, or make an automatic bill payment or another electronic
payment for more than the amount in your checking account (overdrew from your account).
The bank could have bounced the check instead. What would have happened then?
If the bank bounced the check instead, you would be charged with a bounced check or nonsufficient
funds fee. And the person/company that you wrote the check to may charge you a returned-check
fee in addition to the fees your bank charged you.

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?
A W-4 is a form you can fill to avoid having too much or too little Federal income tax withheld from your
pay.

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

If you ask your employer to withhold too much, then youll have to fill out a W-4 form.

Answer in WORD and attach your document to this assignment.

Banzai LS# 13

Scenario 13: ATM Withdrawal

What is an ATM?
An ATM is a machine used to withdraw cash.

How do you avoid fees?

You can avoid fees by finding your banks ATMs on your smartphone, remembering to use affiliated ATM
networks, get debit card cash back, and finding a no-ATM-fee checking account.

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?

http://www.gaspricewatch.com/web_gas_taxes.php

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?

Which transactions are missing from this statement?

How can you verify the current balance of your account?
You can verify the current balance of your account by

https://www.linnareacu.org/learn-plan/financial-basics/balancing-your-checkbook/

https://wallethub.com/edu/how-to-balance-a-checkbook/13769/#how

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?

What are the benefits of an emergency fund?

How large should your emergency fund be?

http://www.practicalmoneyskills.com/personalfinance/experts/practicalmoneymatters/columns/20090
227_tax_refund.php

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?
Some ways to eat healthily on a budget are to choose fresh over canned food, grow your own herbs, or
even just forget about counting calories.

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

No, because it isnt healthy for you.

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?

How was the monthly principal payment calculated?

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?
http://www.practicalmoneyskills.com/calculators/calculate/howMuchWillMyLoanCost.php?calcCategor
y=loans

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

https://www.credit.com/loans/loan-articles/what-to-do-if-you-cant-make-your-car-payments/

What happens when you have a poor credit score?

Having a poor credit score can make it difficult to get an auto loan with a low interest rate.

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?
Employers can also be paid biweekly, semi-monthly or 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?
Some ways to get quality clothing for less is, to go to consignment stores, thrift stores, yard sales, or
even host a clothing swap. As well as pay with a credit card.

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?
To avoid eating junk food during trips, you can bring your own snacks, plan where youre going to stop,
and drink lots of water, because other beverages can be costly.

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?

https://www.energystar.gov/

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?
You can keep from going broke when you need a car by knowing your cars maintenance schedule,
finding a trustworthy mechanic, checking your fluid levels, keeping your tires inflated and invest in an
OBD-II reader.

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?

http://www.ctia.org/your-wireless-life/know-your-wireless-devices-plans/how-to-read-your-monthly-
wireless-bill

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?
An employee can also be paid in fringe benefits, can provide professional development, start investment
accounts, have a flexible schedule, and some places may offer extra pay.

Answer in WORD and attach your document to this assignment.

Banzai LS# 26

Scenario 26: Super-Mart

What is sales tax used for?
Sales tax is used for school aid funds, general funds, local revenue sharing, and comprehensive
transportations funds.

http://www.mlive.com/politics/index.ssf/2013/02/michigan_sales_tax_where_does.html

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?

Why doesnt this check appear on the statement?

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

https://answers.suntrust.com/articles/sn1100-What-is-the-difference-between-my-current-balance-my-
available-balance-and-my-collected-balance

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?

https://www.esurance.com/info/car/5-reasons-you-need-car-insurance

What are the penalties for driving without auto insurance?

https://www.valuepenguin.com/auto-insurance/michigan/penalties-driving-without-insurance

https://www.esurance.com/info/car/the-costs-of-driving-uninsured

What is the difference between liability and collision insurance?

https://www.sapling.com/8348059/difference-between-liability-collision-insurance

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?
http://www.drugfree.org/news-service/nicotine-addiction-costs-2000-annually/

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?

How is the minimum payment calculated?

http://www.bankrate.com/calculators/credit-cards/credit-card-minimum-payment.aspx

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?

https://www.practicalmoneyskills.com/calculators/calculate/costOfCredit.php?calcCategory=debt

Answer in WORD and attach your document to this assignment.