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Navigating Financial Choices: Exploring Dollar$ Workshop Activity

Join us for an engaging workshop designed to enhance your financial literacy and decision-making skills. You'll participate in fun activities, such as choosing how to spend a surprise $100 gift card and tackling true or false questions about banking and finance. Learn about the different services offered by banks and credit unions, understand interest rates, and discover your options when borrowing money. By the end of this workshop, you'll be equipped with the knowledge to make better financial choices in your everyday life!

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Navigating Financial Choices: Exploring Dollar$ Workshop Activity

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  1. Financial Choices and Options a Dealing with Dollar$ workshop

  2. Activity A secret admirer has left a $100 gift card in your mailbox. Which store would you like it to be for?

  3. Name one of these: Bank Credit Union Finance Company Other

  4. True or False? True Banks offer many different services Credit unions have customers not members Payday loan companies sell money? People on income support can not open a bank account False True False

  5. Interest Rate • An interest rate is the rate charged or paid for using money. You are charged an interest rate when you borrow money and paid an interest rate when you loan money (placing it in a savings account is like a loan to the bank).

  6. Short on cash? March 30 - Borrow $300.00 Interest rate is 29% April 8 - Pay back $422.00 How much did it cost you to borrow $300? How much profit did the store make selling you $300?

  7. Need a loveseat? Option 2 Fred’s Furniture Store Save and Buy = $649.00 Option 1 Rent to Own $17 per week for 92 weeks = $1600.00

  8. Creditor A person or company to whom money is owed NL Power says you have to pay them $50 today but you don’t have it. What can you do?

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