Financial Literacy pre-test

On average, people with a high school degree make nearly $210/month more than people without a high school degree.

Which of the following is the cheapest place to cash a paycheck?

What are some common reasons why people are in debt? Choose all that apply.

Definition: money paid regularly, at a particular rate, for the use of borrowed money

40% of American households spend more money than they earn.

Definition: the cost of goods and services

Which of the following factors affect how much money will accumulate in your savings or investment account?

Which of the following is a benefit of having a credit card? Choose all that apply.

If you write a check for money you don't have in your account, the bank will charge you a fee.

Definition: to receive and use something belonging to somebody else with the intention of returning it

Definition: money owed to someone else

APR stands for Annual Percentage Rate

There is typically a significant charge to set up Direct Deposit at a bank.

Why is making and following a budget a wise way of managing your money? Choose all that apply.

Definition: a plan for how to use your money, which may involve spending, saving, and giving

How much education you obtain has little bearing on what kind of job you get.

Which is always larger, your gross income or your net income?

An Annual Fee is a fee charged by credit card companies when you don't make your payment on time.