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Financial Literacy 1 Flashcards | StudBud

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Financial Literacy 1

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Financial Literacy Basics

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Questions 10

Answers

1
All of the following are examples of an income except:
Wage
Salary
Money Gifts
Credit Card
2
Which one of these things should always be kept private?
Address
Shoe Size
Mother's Maiden Name
Social Security Number
3
To reach short and long term money goal, people can:
use savings plans
try not to worry about money very much
rob a bank
take loans from a bank
4
How might adults be able to help you with your finances?
They can't help
They can give you lots of money
They know all the coolest things to buy
They can help decide how to spend and save money
5
How can giving to charity help your finances?
You can "write them off" of your taxes
The FEELS!
The Government will give you back all donated money
Giving to charity doesn't help your finances
6
How are wages and salaries different?
Wages are hourly pay while salaries stay the same
Salaries are hourly pay while wages stay the same
I like ranch on my salaries
Salaries and wages are the same thing
7
People have these to manage their money.
Budgets
Checking accounts
Savings accounts
Credit cards
8
A good strategy for making good money decisions is:
Track your spending
Buy all the things!
dont think about it much
Save all of your money
9
Taxes are used by governments to:
build roads
provide services
build schools
All of the above
10
This is a tax on the things we own like houses and cars:
sales tax
income tax
property tax
ugly tax