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Financial Literacy Flashcards | StudBud
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Financial Literacy
Financial Literacy
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Flashcards
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Questions
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Answers
1
What is one thing that needs to be included in a budget?
The money you earn
None of the above
The money you spend
The money you save
2
True or False: Sales Tax in Ontario is 15%
False
True
3
A pair of shoes costs $99.75 but they are 20% off! How much of a discount will you get on the shoes?
$14.60 off
$21.90 off
$19.95 off
$12.95 off
4
An hat costs $12.75. How much tax will be added to this hat?
$1.25
$0.90
$1.66
$3.70
5
What is interest?
The amount of money the government gives you back
Taxes that are paid by people 21 and older
Knowing your banking history
The charge for the priviledge of borrowing money
6
An item that costs $30 will have the same tax as an item that costs $40.
True
False
7
What are some advatages to having a credit card?
Easily obtainable
Easy to carry around
Helps build credit
Offers more protection than a debit card
8
What does a credit card do?
Allows you to buy whatever you want
Allows to you load money onto a card for spending
Allows you to purchase now and pay back later
Free money
9
What is 35% as a decimal?
0.35
35.0
0.0035
0.035
10
You do not have to pay back money spend on a debit card
True
False
11
What is the best method of payment for a chocolate bar?
Cash
Debit Card
E-transfer
Credit Card
12
Which of the following is buying something that you need
"I want to buy this toy to impress someone"
"I am feeling down and buying this would make me happy"
"I do not want to miss out on these deals during the sale"
"I want to replace something that is no longer working"
