Personal Financial Literacy

Question 1

Which is an example of planned spending?

Accepted Answer

gas for car

Question 2

Charitable giving to others in need

Accepted Answer

donating

Question 3

Which is an example of unplanned spending?

Accepted Answer

emergency room bill

Question 4

Insects attacked pecan trees this year, so the crop is smaller. The price of pecans will...

Accepted Answer

go up

Question 5

When you put money aside to use later.

Accepted Answer

saving

Question 6

Ali wants to save for new shoes that cost $60. If she saves $10 a month, how long will it take?

Accepted Answer

6 months

Question 7

Peaches are in season during the summer. What will happen to the cost of peaches in the winter?

Accepted Answer

it will increase

Question 8

Eli saves $40 a month for college. In how many months will he have $200 saved?

Accepted Answer

5 months

Question 9

There is an abundance of limes this season. What will happen to the price?

Accepted Answer

it will decrease

Question 10

Money earned for work people do

Accepted Answer

income

Question 11

Which is an example of a good?

Accepted Answer

corn

Question 12

Purchasing now, but agreeing to pay for it later

Accepted Answer

credit

Question 13

Which is an example of a service?

Accepted Answer

dog walker

Question 14

money you pay when you borrow money

Accepted Answer

interest

Question 15

Money used to pay for goods and services

Accepted Answer

spending

Question 16

Mrs. May wants to buy a new car. Which is NOT a reason why she decides to use credit to buy?

Accepted Answer

She is able to pay the full price of the car.

Questions 16