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Daily Life

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16 views

Daily Life

Uploaded by

kanda.virag
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Daily life

1. Should teenagers have their own credit card?


Deciding whether teenagers should have their own credit cards involves weighing the benefits and risks.
Benefits include teaching financial literacy, building a credit history, providing emergency funds, and
offering convenience for purchases. However, risks involve potential debt from overspending,
mismanagement of credit leading to poor credit scores, and accumulating high interest and fees. If parents
monitor and educate their teens on responsible use, credit cards can be valuable for financial education
and future readiness.

2. How do you feel about borrowing money?

Borrowing money can be a useful financial tool if managed responsibly. It allows individuals to make
significant purchases, invest in opportunities, and handle emergencies. However, it requires careful
planning and discipline to avoid excessive debt and high interest costs. Properly managed, borrowing can
help achieve financial goals, but without caution, it can lead to financial strain.

3. Do you write out a monthly or weekly household budget?


writing out a household budget, whether monthly or weekly, is a good practice. A monthly budget helps
track recurring expenses, plan for savings, and manage long-term financial goals. A weekly budget offers
more detailed tracking, allowing for frequent adjustments and better control over day-to-day spending.
The choice depends on your financial situation and personal preference, but both methods can help ensure
financial stability and achieve savings objectives.

4. How do you pay your regular monthly bills?


I pay my regular monthly bills through a combination of methods: setting up automatic payments via
online banking, authorizing direct debits from my bank account, using credit or debit cards for online or
phone payments, and utilizing mobile apps from service providers or third-party financial apps. This mix
ensures timely payments and effective financial management.

5. Do you ever inspect banknotes to see if they are genuine before you accept them?
It's a good practice to inspect banknotes to ensure they are genuine before accepting them. I typically
check for security features like watermarks, security threads, color-shifting ink, and raised printing, which
are designed to help identify counterfeit notes, but i don't really inspect them.

6. What's your attitude to tipping?


I believe tipping is an important way to show appreciation for good service. It acknowledges the effort
and quality of service provided by workers, particularly in industries like hospitality and dining where tips
often make up a significant portion of their income. While tipping standards can vary by region, I
generally follow customary practices and adjust the tip based on the level of service received.
7. When you see charity fundraisers standing, for example, by the entrance of a
supermarket, do you try to avoid them? Why?

I avoid charity fundraisers at supermarket entrances because I prefer to support charities through
researched donations rather than spontaneous decisions.

8. What should you watch out for when talking out a mortgage?

When taking out a mortgage, watch out for interest rates (fixed vs. variable), loan terms, down payment
requirements, closing costs, prepayment penalties, and your overall budget to ensure you can comfortably
afford the monthly payments. Additionally, consider the lender's reputation and the total cost of the loan
over its lifetime.

9. How can people save money more?

People can save more money by creating and sticking to a budget, cutting unnecessary expenses like
dining out or subscription services, comparing prices before making purchases, automating savings
transfers, and regularly reviewing and adjusting financial goals to prioritize savings.

10.Lots of people are worried about paying their bills, what should they do?

If worried about paying bills, people should prioritize essential expenses like housing, utilities, and food,
communicate with creditors about payment options, explore community resources for assistance, create a
budget to manage finances, and seek financial counseling if needed to develop a plan for stability.

11.Is your money being spent on the things that truly need?

Ensuring money is spent on true necessities involves regularly reviewing expenses, prioritizing needs over
wants, creating a budget, and making conscious spending decisions aligned with financial goals and
priorities. I usually don’t spend my money on thing i don't really need, but before my period comes, i buy
enormous amount of candys, chocolate, and always have i feel quilty because i don't really need them,
just i can't stand not to buy them.

12.What is the last item you regretted purchasing?

The last item I regretted purchasing was an expensive gadget that I ended up not using as much as I had
initially anticipated.

13.How can you improve your financial literacy?

You can improve your financial literacy by reading books and articles on personal finance, taking courses
or workshops, following reputable financial websites and blogs, discussing money matters with
knowledgeable individuals, practicing budgeting and investing, and staying informed about economic
trends and financial products.
14.How would you teach your children good financial values?

Teaching children good financial values involves leading by example, involving them in family financial
discussions, giving them age-appropriate responsibilities to manage money, setting savings goals together,
encouraging wise spending choices, explaining the importance of saving and budgeting, and discussing
the impact of decisions on long-term financial well-being.

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