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Financial Literacy Flashcards | StudBud
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Financial Literacy
Financial Literacy
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Flashcards
17 cards
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Questions
17
Answers
1
You might use a cheque to:
Pay for something in the store
Pay a bill
Digitally send money
2
Which form of payment is becoming outdated?
Debit card
Cash
Credit Card
Cheque
3
What are some disadvantages of having a debit card?
Increases Interest Rate
Can Ruin Credit History
There Are No Disadvantages To Having A Debit Card
Spending more money then you planned
4
What is this:
Cryptocurrency
A credit card
A debit card
A cheque
5
What is Debit?
A way to transfer money to someone else
A card with borrowed money on it
A link to someone else's bank
A card linked to your bank account
6
What is credit?
Allows You To Purchase Now And Pay Back Later
Allows You To Buy Anything You Want. Free Money!
Allows You To Stress Out
Allows You To Make Purchases Using Your Checking Account
7
Which isn't an example of a digital wallet?
PayPal
DigiWalli
Apple Wallet
Venmo
8
One negative thing about cryptocurrency is:
It's an old way of spending money
It takes a long time to send
The value of it changes all the time
You have to have a bank account to use it
9
Your friend bought you something and you need to pay him back. Which is the best way to do this?
Cheque
Digital Wallet
Credit Card
EMT
10
One disadvantage of EMT's is:
It transfers money without knowing where it's going
It transfers money but can be hacked
It transfer money slowly
It transfer money very fast
11
What is an advantage to having a debit card?
Limited amount of money from the bank
having free money from the bank
Helps Build Credit
Easily Accessible
12
Which of the following wouldn't be "contactless" payment?
Debit
Credit Card
Cash
Digital Wallet
13
EMT stands for:
Electronic money trade
Emergency money transfer
Email money transfer
Electronic monetary trust
14
Which form of payment do people feel is the most "convenient" these days?
Cash
Cheque
Cryptocurrency
Digital Wallet
15
What is an advantage to having a credit card?
You get money to spend for free
Anyone can get one
Allows you to buy anything at no cost
Can be used in most places and online
16
What are some disadvantages of having a credit card?
spending is very limited
you have to pay it back
it can cause overspending without being able to repay
having a card is easy to lose
17
What is needed in order to obtain a credit card?
A parent can get one for a younger child
Access to other peoples accounts
A large income
Need To Be 18 Years Or Older
