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FinStart: Module 1 Flashcards | StudBud

Explore/FinStart: Module 1

FinStart: Module 1

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Questions 5

Answers

1
Which of the following is NOT one of the four pillars of financial literacy mentioned in the module?
Investing
Gambling
Saving
Borrowing
2
Which is NOT a component of financial well-being (based on CFPB)?
Winning the lottery
Being on track to meet financial goals
Having control over day-to-day finances
Capacity to absorb financial shocks
3
Why does financial literacy matter for society and the economy?
It guarantees job security
It increases consumer debt
It promotes smarter financial decisions and reduces inequality
It reduces government corruption
4
“If I have a low income, budgeting isn’t necessary.”
False
True
5
What is financial literacy?
Knowing how to become rich
Being good at math
Memorizing financial terms
Understanding and managing money wisely