things you wish to have not necessarily for daily living

'Pay yourself first' means:

every time you earn some money, save a little for yourself

One advantage of piece work is:

if you work really fast, you can make more items

bills you pay, pretty much each month

A variable expense is:

expenses that change from month to month

a fixed amount of money made no matter how many hours worked

things you have to buy for daily living

What does it mean to earn commission?

earn a percentage of what you sell

getting paid for every item you make

What is a 'digital wallet'?

a way to pay for things using applications and a smartphone

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Money Matters

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A #financialliteracy quiz to review the Money Matters newspaper.

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Questions 30

Answers

1
What does financial literacy mean?
loving money
saving money
understanding money
spending money
2
A 'want' is:
things you like
things you wish to have not necessarily for daily living
things you can easily buy for daily living
things you easily need for daily living
3
'Pay yourself first' means:
every time you earn some money, give a little
every time you earn some money, spend a little
every time you earn some money, save a little for yourself
every time you earn some money, throw a little in the air
4
What is one way to earn money?
babysit
get a part-time job
do chores around the house
all of the above
5
The following is an example of a job that pays commission:
a car salesman
a movie director
a grocery clerk
a nurse
6
One advantage of piece work is:
if you work really fast, you can make more items
if you work in the morning, you have coffee while you work
if you work really carefully, you get special treatment
if you work long hours, you get paid extra
7
A budget lets you focus on your short-term and long-term goals.
False
True
8
It is a really bad idea to 'pay yourself' first:
False
True
9
One advantage of a credit card is:
you get some time to pay back what you used
you get to use money that is not yours
all of the above
you don't have to carry large amounts of cash around
10
There are both advantages and disadvantages of using a credit card:
False
True
11
Credit card companies send you a bill once a week.
False
True
12
A fixed expense is:
bills you pay, pretty much each month
bills you pay, pretty much every year
bills you pay, when you have the money
bills you pay, pretty much every day
13
A 'credit card' is a type of loan:
False
True
14
Money you save now, is money that will be available to you in the future:
False
True
15
The best age to start a part-time job is:
early 20's
it depends on your situation
13
16
16
There are only 6 ways to use money:
True
False
17
One disadvantage of using a credit card is:
all of the above
credit card debt can be very expensive
if you don't pay on time, you get charged interest
you can loose track of how much you spend
18
A variable expense is:
expenses that you like to buy
expenses that you have to buy
expenses that your family buys
expenses that change from month to month
19
Your family values affect the way you use and think about money?
False
True
20
When is a good time to start thinking about how you use your money?
when I'm 18
now
never
tomorrow
21
What is a salary?
a green vegetable you eat
money you make in one day
a fixed amount of money made no matter how many hours worked
money you make in one week
22
The people/person that will ultimately decide what you do with your money are:
your friends
your teachers
you
your parents
23
A 'need' is:
things you have to buy for daily loving
things you have to buy for daily listening
things you have to buy for daily living
things you have to buy for daily leaving
24
Save, spend, invest, loan, borrow and give it away...these are what?
the 8 ways to use money
the 5 ways to use money
the 7 ways to use money
the 6 ways to use money
25
The general minimum wage amount is:
$10/hour
$11/hour
$11.40/hour
$12/hour
26
What does it mean to earn commission?
earn a small amount of cash
earn a lot when you buy something
all of the above
earn a percentage of what you sell
27
What is piece work?
all of the above
being peaceful at work
getting paid for every item you make
pay for a piece of cake
28
The student minimum wage amount is:
$10.50/hour
$10.60/hour
$10/hour
$10.70/hour
29
If you don't pay your credit card bill on time, the company will charge you what?
nothing
debt
a small fee
interest
30
What is a 'digital wallet'?
a phone that beeps every time you loose your wallet
a wallet that's on the internet
a way to pay for things using applications and a smartphone
a smartphone that helps you keep a budget

Money Matters Flashcards | StudBud