stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Financial Literacy Terms Review Flashcards | StudBud
Explore
/
Financial Literacy Terms Review
Financial Literacy Terms Review
20 terms
·
StudBud Administration
·
423 plays
A review of terms that we learned in grade 4/5 Financial Literacy.
Flashcards
20 cards
F
Practice quiz
P
Host live
L
Questions
20
Answers
1
What do you think is the most important thing to do when it comes to taking care of your money?
Setting aside money to donate
Making a budget and sticking to it
Regularly putting money into a savings account
Keeping an emergency fund
2
When you purchase something with a credit card, you do not have to pay back the money.
True
False
3
Which card do I use if I want to make a purchase with borrowed money?
Pre-paid card
Credit card
Air Miles card
4
If I earn $50 each month and I spend $25 on clothes each month, I am living within my means.
False
True
5
The term "living within your means" is defined as
living in a small house
being careful not to spend more money than you earn
being unkind to people
making sure to buy everything you have ever wanted
6
Which card do I use if I would like to make a purchase with money from my chequing account?
Pre-paid gift card
Air Miles card
Credit card
Debit card
7
"Wants" are things that you cannot live without.
True
False
8
Where does it make sense to keep large amounts of money?
Under your mattress
In the bank.
In your wallet
In a treasure chest in your backyard.
9
Which type of bank account is where you keep money to use in the future?
Money account
Netflix account
Chequing account
Savings account
10
A Loan is ....
Money that you give away
Money that you borrow
Free money
Money that you borrow and pay back over time with interest
11
"Expenses" are the things or services that you regularly spend money on.
True
False
12
A pre-paid card is a payment card that you preload with your own money.
True
False
13
A "need" is something that you cannot live without. Like food, housing and clothing.
True
False
14
What is a budget?
A jet for flying around your buddies.
An outline of your plan for spending and saving money
A plan to help you study
A list of things you want to buy
15
If I earn $50 each month and I spend $60 on clothes each month, I am living within my means.
False
True
16
What type of skills did we learn about in financial literacy?
Math skills
Money skills
Basketball skills
High jump skills
17
Which type of card allows you to buy things using money from your chequing account?
Credit Card
Birhtday card
Debit card
Gift card
18
Which type of accounts will you find at a bank? Check all that apply.
Netflix account
Amazon account
Chequing account
Savings account
19
What do you call money that you save to use in case something unexpected happens?
A Windfall
Couch money
Lucky money
Emergency Fund
20
What is "interest"?
A fee you pay to borrow money
The payment you receive on savings (in a bank)
A special kind of bank account
Your desire to want to do something
