Pre-Post Test Financial Literacy

A middle school student can open their own savings account with the help of a parent.

1.  Which is always larger?

the cost of goods and services

On average, people with a high school degree make more than people without

What does the phrase, "pay yourself first" mean?

Makes money grow over time and helps prepare for big expenses like retirement

Finish the quote, "The greater the risk, the greater the _______"

The amount of time your money has to stay in an account in order to earn a specific interest.

Extra money you have left over after paying all expenses.

The cash and coins we use, called economy, are what we use to pay for goods and services.

A personal budget helps you identify how you spend your money and how much you spend

With a money market account, you have limited check writing and withdrawals each month.

The Treasury keeps the banks supplied with money

True or False: There is typically a significant charge to set up Direct Deposit at a bank.

These occur on a regular basis, you have some control over how much you spend.

Many American households spend more money than they earn.

What should you make and follow a budget?

3. What are some common reasons people are in debt?

money owed to someone else

When you earn money in the stock market it is called a:

A form used at the bank to record the details of the money you are putting in your account

Banks charge interest on money people deposit at the bank.

A personal budget helps you make decisions about your money both today and the future.

How much education you have has little to do with what kind of job you get.

What was the biggest event leading to stocks being the most frequently traded security type?

You should only update your budget once a year.

An Annual Fee is the fee charged by credit card co. when you don’t pay on time.  

The amount of money you have earned by working

a column worksheet where you write all your transactions for an account, and keep a balance

When a company is sharing a portion of its profits with its investors it is called____?

a plan for how to use your money, which may involve spending, saving and giving

The ability to make money in exchange for work.

You should not sign a withdrawal slip until you are in front of a teller at the bank.

If you write a check for money you don’t have in your account, the bank will charge you a fee.

Something you have to have in order to survive

These occur regularly and don't change from month to month.

What is an IPO, or Initial Public Offering?

to receive and use something belonging to somebody else with the intention of returning it

APR stands for Annual Percentage Rate.

2.  Where is it cheapest to cash a paycheck?

money paid regularly, at a particular rate, for the use of borrowed money.

Some common types of investments are:

Purchasing stock means you are purchasing a _____ of ownership in the company.

Something you would like to have but is not necessary to survive