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Financial Literacy Flashcards | StudBud
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Financial Literacy
Financial Literacy
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Flashcards
15 cards
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Questions
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Answers
1
What does it mean to "save" money?
To throw it away
To keep it for later
To hide it
To spend it
2
What does it mean to borrow money?
Save your money
Give money away
Get free money
Use someone else's money and pay it back later
3
What should you do before spending your money?
Spend it fast
Ask a friend
Close your eyes and pick
Make a plan or budget
4
Which coin is worth the most?
Dime
Quarter
Nickel
Penny
5
Why do banks charge interest when you borrow money?
To punish people
To earn money for lending services
So they can lose money
Because they are nice
6
If you get $10 and save $3, how much did you spend?
$3
$7
$1
$10
7
What do most loans have in common?
You get extra money as a gift
You never have to pay them back
You must pay them back with interest
8
What is a job?
A type of pet
A way to earn money
A vacation
A game
9
Which of these is a need?
Netflix
Snacks
Shoes for school
Roblox
10
What is the main difference between a credit card and a debit card?
Credit gives you more interest
Debit uses your own money, credit borrows money
They are the same
Debit earns rewards
11
What is a checking account mostly used for?
Watching videos
Holding coins only
Spending money using checks or debit cards
Growing plants
12
What is a credit score?
A number that shows how well you play video games
A number that shows how good you are at paying back money
13
What kind of loan would someone use to buy a house?
Payday Loan
Mortgage
Auto Loan
Student Loan
14
If you borrow money to buy a car, what kind of loan is it?
Credit Loan
Student Loan
Auto Loan
Mortgage
15
Where is a safe place to keep your money?
Under the mattress
Under the couch
In you sock
At a bank or Credit Union
