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Financial Literacy Goals and Expectations Flashcards | StudBud

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Financial Literacy Goals and Expectations

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Questions 8

Answers

1
What is the simple difference between a credit card and a debit card?
Credit cards are only used for purchasing food. Debit cards for drinking.
Credit cards allow you to pay later. Debit cards help you pay immediately.
They are both useless and I couldn't care less about what they are used for
Credit cards are more likely to get stolen. Debit cards are not used.
2
When you are less experienced, you are more likely to average out a greater income than someone with more experience.
False
True
3
What does the term PIN stand for?
My brain hurts, why are you making me do this.
Personal Identification Number
Postal Index Number
People in Need
4
Why is it important to be financially literate?
So you can LACK the basic knowledge and skills to make informed decisions.
Financial literacy EMPOWERS people to take control of their financial lives
So Ms. Sarnese doesn't yell at you
So Beyonce can praise you and give you one million dollars
5
What rule should you apply when you are setting money aside for your savings account?
50/20/20
50/30/20
60/20/20
65/42/96
6
The Cost of Raising a Child Varies Typically from the Amount of Children you Have and your Living Expenses
True
False
7
Since you are a teenager, what you do now with money will have little effect on your financial future.
False
True
8
Pick some successful and healthy habits!
Sleeping during class
Budgeting responsibly
Scrolling through Tiktok everyday
Wasting all your money on Starbucks Coffee and eating fast food all day!!!!