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Financial Literacy Part 1 Flashcards | StudBud
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Financial Literacy Part 1
Financial Literacy Part 1
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Flashcards
5 cards
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Questions
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Answers
1
True or False. A credit score is used to measure how risky a person is as a borrower
True
False
2
You earn $1,200 a month. You spend $300, $150, $100, and $50. How much do you have left?
1800
1200
600
550
3
You deposit $500 in a savings account that earns 4% simple interest per year. What interest will you earn in 1 year?
20
200
4
What does “pay yourself first” mean in personal finance?
Save a portion of your income before other expenses
Buy what you want first, then save what’s left
Spend your money before saving
5
What is a budget?
A plan for managing income and expenses
A way to increase your credit score
A loan from the bank
A way to increase your credit score
