ability to make financial decisions, by summarizing income/expenses

What is Financial Literacy?

Getting educated with money management to have a secure financial future

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Financial Literacy

12 termsStudBud Administration76 plays

concepts

Flashcards12 cardsFPractice quizPHost liveL

Questions 12

Answers

1
2 ways to keep track of your income and expenses? zero based and 50/30/20?
True
False
2
To establish your credit history is recommended to.....
pay your bills a week ahead or at least the day before to reduce interest
avoid applying to many credit accounts within 6 months period
20/10 rule
all of the above
3
Savings is about.....
left over money after subtracting out consumer spending
money set aside to use later
all of the above
prioritizing what is essential vs want
4
Are students required to file taxes by using 1040 Form?
College students must file a tax return if they made over a certain income
required to file federal tax returns when they make at least $12,550
unmarried dependent student file taxes; if earned income exceeds limits
all of the above
5
The 3 most common savings account types are.....
regular savings
none of the above
High Yield savings and CD
A and C
6
Financial Aid is to pay for tuition fees, books, and room. This is free money for the first bachelor's degree.
False
True
7
What is the platform used to help you with Finances at FIU?
IGrad
Pocket Guard
Money dashboard
Honeydue
8
What is credit?
how you measure your ability to make purchases
the ability to access goods/services with the agreement that you'll pay
answers A and C
buying good services by borrowing money that you dont have (pay higher int)
9
Grants are.....
It is need-based that consider your family situation
A and B
gifts that do not have to be paid back, under most conditions.
none of the above
10
Scholarships are....
another resource of free money
financial support awarded to a student, based on academic achievement/other
is a gift from an organization
all of the above
11
What is a Budget?
answers A and B
learning incredible budget car rental deals
calculation plan
ability to make financial decisions, by summarizing income/expenses
12
What is Financial Literacy?
all of them
Ability to read and write by using finance terms
accumulating unsustainable debt burdens
Getting educated with money management to have a secure financial future

Financial Literacy Flashcards | StudBud

Financial Literacy

12 termsStudBud Administration76 plays

concepts

Flashcards12 cardsFPractice quizPHost liveL

Questions 12

Answers

1
2 ways to keep track of your income and expenses? zero based and 50/30/20?
True
False
2
To establish your credit history is recommended to.....
pay your bills a week ahead or at least the day before to reduce interest
avoid applying to many credit accounts within 6 months period
20/10 rule
all of the above
3
Savings is about.....
left over money after subtracting out consumer spending
money set aside to use later
all of the above
prioritizing what is essential vs want
4
Are students required to file taxes by using 1040 Form?
College students must file a tax return if they made over a certain income
required to file federal tax returns when they make at least $12,550
unmarried dependent student file taxes; if earned income exceeds limits
all of the above
5
The 3 most common savings account types are.....
regular savings
none of the above
High Yield savings and CD
A and C
6
Financial Aid is to pay for tuition fees, books, and room. This is free money for the first bachelor's degree.
False
True
7
What is the platform used to help you with Finances at FIU?
IGrad
Pocket Guard
Money dashboard
Honeydue
8
What is credit?
how you measure your ability to make purchases
the ability to access goods/services with the agreement that you'll pay
answers A and C
buying good services by borrowing money that you dont have (pay higher int)
9
Grants are.....
It is need-based that consider your family situation
A and B
gifts that do not have to be paid back, under most conditions.
none of the above
10
Scholarships are....
another resource of free money
financial support awarded to a student, based on academic achievement/other
is a gift from an organization
all of the above
11
What is a Budget?
answers A and B
learning incredible budget car rental deals
calculation plan
ability to make financial decisions, by summarizing income/expenses
12
What is Financial Literacy?
all of them
Ability to read and write by using finance terms
accumulating unsustainable debt burdens
Getting educated with money management to have a secure financial future