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Financial Literacy Flashcards | StudBud
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Financial Literacy
Financial Literacy
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Questions
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Answers
1
The basic finance to learn are stated. EXCEPT.
Spend
Borrow
Save
Invest
2
This is the ability to use knowledge and skills to make effective and informed money management decisions
saving
emergency bolster
interest
financial literacy
3
Financial Literacy unlocks the door to financial success
False
True
4
Money that comes in or earned is called ______.
Expenses
Income
Deductions
Budget
5
What is the key area in building an improved financial system in the Philippines?
Inclusion
Financial Education
Financial Literacy
Personal Finance
6
Why is it important to start investing as soon as possible?
You have more time for your money to compound
Fees on investments are cheaper when you are younger
You take less risk when you are young, so money will be safe
Investing is an easy way to make quick money
7
AN ACT DECLARING THE SECOND WEEK OF NOVEMBER OF EVERY YEAR AS ECONOMIC AND FINANCIAL LITERACY WEEK
Republic Act No. 10299
Republic Act No. 10922
Republic Act No. 10929
Republic Act No. 10292
8
A student can be found at the mall on the weekends to buy branded clothes. This person has the means to satisfy their
Basic Economy
Want
Needs
Spend
9
What is a budget?
A plan to manage income and expenses
average monthly income
average yearly income
a plan that poor people need to use
10
What is a general rule of thumb on how much you should save?
10% of your income
20% of your income
5% of your income
30% of your income
