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Financial Literacy for Teens 1 Flashcards | StudBud
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Financial Literacy for Teens 1
Financial Literacy for Teens 1
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Financial Literacy for Teens Book
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
People who do not understand the difference between _&_usually struggle with financial problems
taxes and insurance
nickels and dimes
food and shelter
needs and wants
2
Credit Card debt and ____are the two most common causes of financial disasters for young people
computer viruses
food cost
automobile cost
debit card debt
3
Developing a financial lifestyle that fits the amount of money you will earn in your career is
lifestyle driven journey
a money management program
none of the above
a journey driven lifestyle
4
A large retail corporation, Wal-Mart, which is very successful today, was started by
Sam Walton
Donald Trump
Bill Gates
Martha Stewart
5
The more you make, the more income taxes you will probably pay. This concept is called a
security tax
graduated income tax
medicare tax
three-bucket process
6
Health insurance is
a must buy item for your budget
unnecessary expense
only for those with health conditions
more important for women than men
7
Investing in different types of things is called
dividing your income evenly
stuffing your empty pockets
diversifying your investments
a bad decision
8
Health insurance program that is funded by some of your taxes & run by the federal government
State Tax
FICA
Unemployment Tax
Medicare
9
The average Social Security payment a person receives today per month is
more than enough to cover monthly bills
more than average pay
over $2,000
less than $1,000
10
Sometimes the U.S. government is known affectionately by the nickname?
Uncle Fred
Aunt Sally
Cousin Kathy
Uncle Sam
11
When items such as a house or land become more valuable over time, they are said to
depreciate
negotiate
appropriate
appreciate
12
One common denominator of most financially successful people is that they
started a business
worked part-time when a teenager
always have $500 in their pocket
quit school before 18
13
Which items below would depreciate if you owned it (them)?
all the above
TV
SUV
boat
14
Cahin mail involving money are
legal if 21 yrs of age
partly ethical
completely illegal
sometimes legal
15
The money you make at your job day after day, week after week, is called
unearned income
disposable income
limited income
earned income
16
If you can't afford renter's insurance, you
need to charge it
shop around for another type insurance
can't afford the place you want to rent
need to take out a loan
17
One major problem with using credit cards is that people
buy things they can not afford
lose them
forget to use them
use instead of debit card
18
If you pay your credit card bill on time (every time) you will be
protecting the credit card company from risk
short of cash each month
losing the interest charged on your account
building a good credit record
19
An average career will last approximately how many hours if you work for 43 years?
1million hours
860 hours
86,000 hours
8,600 hours
20
A_______is a plan for how you will spend your money?
cash journal
budget
paycheck
credit card