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PRC: Financial Literacy Flashcards | StudBud
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PRC: Financial Literacy
PRC: Financial Literacy
12 terms
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StudBud Administration
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152 plays
intro to financial literacy and budgeting #financialliteracy #budget
Flashcards
12 cards
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Practice quiz
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Host live
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Questions
12
Answers
1
A secured loan is backed by tangible goods
FALSE
TRUE
2
Effective goals should be
EASY TO ACHIEVE
NOT SPECIFIC
TIME SENSITIVE
3
What is interest?
the amount of money repayed
a one time fee
the amount of money borrowed
the fee for the use of money
4
Flexible expenses stay the same every month
TRUE
FALSE
5
Budgeting starts with monitoring current spending?
TRUE
FALSE
6
An example of a "want" is
FOOD
NEW KICKS
ELECTRICITY/ HEAT
SHELTER
7
A fixed interest rate changes over the life of the loan
TRUE
FALSE
8
An example of a flexible (variable) expense is
CAR INSURANCE
RENT
FOOD
CAR PAYMENT
9
Final phase of budgeting is
Monitor current spending
Review financial progress
Set personal and financial goals
Compare your estimated vs. actual income and expenses
10
An example of a fixed expense is
CLOTHING
FOOD
RENT
ELECTRICITY/ GAS
11
An example of a "need" is
a textbook
gas for your car
an apple
an IPAD
12
An example of a long term goal
Summer vacation
A new pair of sneakers
Retirement
Buying a used car
