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Financial Literacy Flashcards | StudBud

Explore/Financial Literacy

Financial Literacy

12 terms·StudBud Administration·75 plays

A lesson on making responsible financial decisions.

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Questions 12

Answers

1
What is financial literacy?
reading books about money
using money wisely
using money unwisely
understanding how money works in the world
2
What is interest?
another word for net pay
money you pay to the bank for a loan
your hobbies
the new movie that came out last week
3
What is a loan?
getting a good job
getting money for working
when one person borrows money from the bank, with interest
when someone receives a gift from someone else
4
What is an example of a fixed expense?
car payment
house payment
movie tickets
going out to eat at a restaurant
5
What is net pay?
the total amount an employee makes for his/her work
the amount an employee takes home after subtracting taxes
the amount of money a fisherman makes for selling his fish
6
Why is financial literacy important?
so you can make better decisions in life with your money
because your teacher says it is
so you can get a good grade
to get a new job
7
What is gross pay?
the total amount an employee makes for his/her work
money you have to give to your boss when you make a mistake
the amount an employee takes home after subtracting taxes
money that is dirty
8
Is a soda a need or a want?
It's a need
It's a want
9
How much money should you save each month?
15% of your paycheck
enough to buy a good amount of candy
$80,000
It depends on what your goals are
10
What is an example of a variable expense?
going out to eat at a restaurant
movie tickets
car payment
house payment
11
What is it called if you let someone borrow money?
a gift
giving to charity
a paycheck
a loan
12
What is bartering?
giving something to somebody in exchange for something else
buying something from a store
giving a gift
working for a man named Bart