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Financial Literacy Flashcards | StudBud
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Financial Literacy
Financial Literacy
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Flashcards
9 cards
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Questions
9
Answers
1
What is a Checking Account for?
Everyday use
Saving money
Buying a house
Paying for college
2
If you are paid $500 for a job you completed, how much should go towards your needs?
$250
$200
$185
$400
3
BONUS QUESTION(DOUBLE POINTS): Which of the following is the best example of a need rather than a want?
A winter coat for cold weather
A smartphone upgrade
A new video game
Tickets to a concert
4
What is a Budget?
It doesn't exist
Spending all your money right away
Another word for credit card
A plan for how we spend and save our money
5
What is the "50%" for in the 50/30/20 Rule?
Savings
Wants
Needs
Ice Cream
6
What is a Saving Account used for?
To pay for groceries
Saving up money for the long-term
Everyday use
To pay for food
7
What is the "30%" for in the 50/30/20 Rule?
Wants
Water
Savings
Needs
8
How likely are you to use these financial literacy practices (No points)
Unlikely
Very Likely
Likely
Very Unlikely
9
What is the "20%" for in the 50/30/20 Rule?
Buying a milkshake
Wants
Savings
Needs
