Instructions: Read the following scenarios and decide whether it is best to use online or traditional banking for each person’s needs. For each response, you will need to answer these 3 questions.
1. Will you use cash/check, debit/prepaid card, credit card, or P2P?
2. Why did you choose that payment option?
3. What are other possible payment decisions you can make?
Your choices are
Debit Card
Credit Card
P2P
Cash
Check
None (if no other payment is an option
You get a weekly allowance of $30 from your parents that is automatically transferred into your checking account. Tomorrow you are going to see a movie with your best friend which you often do. Your movie ticket and snacks cost $22. What is the best payment option for this scenario?
You will use
I choose this because...
Other methods I could of used include
After a basketball tournament, nine of the team members go out to The Cheesecake Factory to celebrate your winning with a victory dinner. You all order dinner plus some people get dessert. When the check comes the waiters says it all has to be one ticket. What is the best option for this payment scenario?
You will use
I choose this because...
Other methods I could of used include
Your grandma pays upfront for you to go on an overnight trip with the school, which costs$340. You make a deal that you’ll give her $25 per month until you pay it all back. What is the best option for this payment scenario?
You will use
I choose this because...
Other methods I could of used include
You and four friends are looking forward to a musical festival this June. Tickets are $100 each and are known to sell out in minutes! What is the best option for this payment scenario?
You will use
I choose this because...
Other methods I could of used include
You recently bought a used car and it breaks down. You take it to the repair shop, which will charge $400. You don’t have that money right now, but you’ll have it once you get paid at the end of the month. What is the best payment option for this scenario?
You will use
I choose this because...
Other methods I could of used include