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How well do you know about financial literacy Flashcards | StudBud

Explore/How well do you know about financial literacy

How well do you know about financial literacy

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Questions 10

Answers

1
Should you store all your money in a single bank account?
False
True
2
What is the meaning of ‘asset’ in finance?
Value one owns
A financial account
Stock market indices
Loan from a bank
3
What’s the best way to avoid impulse purchases?
Always use credit card
None
But the first option
Make a shopping list
4
What is the opposite of ‘credit’ in finance?
Spending money
Borrowing money
Investing money
Saving money
5
What is a budget
Saving for retirement
Tax on income
Investors obligation
Financial plan
6
Is it important to have a budget in order to spend wisely?
False
True
7
What is fixed expense?
Changes frequently
Inflation rate
Same amount monthly
Unnecessary expense
8
What is the first step to create a budget?
Do nothing
Plan expenses
Buy impulsively
Get a loan
9
What is the meaning of ‘liability’ in finance?
Money earned
Money saved
Money invested
Money owned
10
What is a ‘pay yourself first’ budget
Spend all your money at the candy store
Save 50% of your paycheck and use the other 50% on needs
Invest money into stocks
Buy a gift for your friend or family member