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6th Grade Financial Literacy Part 2 Flashcards | StudBud
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6th Grade Financial Literacy Part 2
6th Grade Financial Literacy Part 2
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Mrs. Holbrooks Financial Literacy Study Quiz Part 2
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
A debt is ...
money you don't have to pay back
money used for needs, not wants
money you have to pay back
money used for wants, not needs
2
Why is a credit card a type of debt?
credit cards are only used in stores and not between friends
using a credit card allows you to earn points and rewards
credit card companies charge a small fee to use them
using a credit card is borrowing money that needs to be paid back later
3
Cash is...
money you'll borrow
money you have today
money you don't have
money you'll pay back later
4
A job is....
something you need to do
something you do when you are bored
something you do to earn money
something you are told to do
5
Credit is...
money you are given and promise to pay back later
money you borrow and promise to pay back later
money you borrow and don't have to pay back later
none of these
6
If someone can cook and bake and then becomes a chef, they have chosen a career based on ...
income
skills
interests
salary
7
If you have a friend who is really interested in dogs, what would they need to turn that into a way to make money?
a dog park across town
dogs being sold at a nearby pet store
dogs in the neighborhood that need walking
guard dogs for their own home
8
A career is...
the type of job you do for a long time
the way you save money
a single job you have once
the kind of job most people have
9
When you want to buy something, which kind of information may NOT give you the best information?
expert reviews
trustworthy information
product advertisements
reliable information
10
What is the difference beween salary and wage?
a salary is based on the number of hours work and a wage is not
a wage is income for very experienced workers
Wage is paid for each hour that you work, Salary is a set amount of pay
they are the same types of income
11
Keeping track of what you earn, spend, and save are the key parts of a ...
investment strategy
monthly allowance
budget
paycheck
12
What kind of information should you find when you want to research buying something?
positive information
negative information
questionable information
reliable information
13
Which is a reliable source of information when trying to research something you will buy?
expert reviews
social media
friends
advertisements
14
If someone likes animals and then becomes a zookeeper, they have chosen a career based on
abilities
skills
income
interests
15
If you have a budget, you have...
a plan for using your money over a set period of time
spending money for all the things you want
nice things
a good idea of how much money you'll make to afford nicer things
16
How is a career path different from a job?
a career path clearly marks how to get a job
there is not difference, they are exactly the same
a career path is a different type of work than a job
a career path is made up of jobs in the same field
17
What would be an example of a money making opportunity for a person your age?
fixing your family car
a lemonade stand
painting your neighbor's house
riding a bike
18
Why is choosing a career based on interests and skills important?
it's only important to like what you do. Skills are less important
it's more important to choose a career based on income
it's important to like what you do and be able to do it
it allows you to earn a salary
19
Cutting back on expenses can help you save money, which will...
add up fast and help you save for your goal
help you spend more money
help you afford nicer things
help you choose the right investments
20
If a neighbor needs help with their yard. What would you need in order to turn that into a money making opportunity?
opportunity costs
tools and skills to do the work
none of the above
other customers
