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Youth Financial Literacy Lesson 1-4 Review Flashcards | StudBud

Explore/Youth Financial Literacy Lesson 1-4 Review

Youth Financial Literacy Lesson 1-4 Review

11 terms·StudBud Administration·103 plays

Our Lady of Mercy Community Outreach Youth Financial Literacy course definitions from lessons 1-4

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Questions 11

Answers

1
Which of these is an EXPENSE?
Any money that you receive
$25 birthday gift received
Car payment $500 to the bank
Paycheck received from work
2
Which of these is a WANT ?
Fancy & Trendy Clothes
Water
Housing
Food
3
An example of a LONG TERM GOAL: "I would like to save $3,000 to buy a car in 1 year"
False
True
4
A WITHDRAWAL is...
taking money out of a bank account
putting money into a banking account
5
YOUTH FINANCIAL LITERACY is the knowledge of...
how to read math problems
how to make smart decisions with money as an adult
how to make smart decisions with money as a young person
how to make silly decisions with money
6
INCOME is money that is spent.
True
False
7
An example of a SHORT TERM GOAL: "I would like to save $3,000 to buy a car in 1 year"
True
False
8
A BUDGET is...
interest earned by the bank
a spending plan that helps you manage your money
a person who spends too much money
an account you open at the bank
9
You earn ___________ from a bank if you have a savings account & you pay ____________ to a bank if you have a loan.
checking
expenses
interest
budget
10
A DEPOSIT is...
taking money out of a bank account
putting money into a bank account
11
Which of these is a NEED?
Fancy & trendy clothes
New toys
Takis
Water