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Personal and Financial Literacy Flashcards | StudBud

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Personal and Financial Literacy

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Questions 10

Answers

1
Bobby is 12 now. Name 1 future item he should start saving for now.
His 13th birthday party
His breakfast tomorrow
His dinner tonight
College
2
If you want to buy a video game, what is 1 way you can earn money to do that?
doing your chores
reading a book
walking to school
playing outside
3
What is credit?
Money from your allowance
Money that is borrowed from another source
Money that you found on the street
Money you have in your bank account
4
What is a budget?
a type of car
a plan of monthly expenses
a way to make money
a type of animal
5
What is the most responsible thing to do with your allowance?
Save it under your mattress
Put it in a savings account.
Bury it in the backyard
Spend it all
6
If you have to borrow money from someone, when should you pay them back?
When you can borrow the money from someone else to pay
Right away
Whenever they ask you several times.
Never
7
When is the best time to buy an item that you want?
When you have to borrow money from someone else.
When it first comes out in stores
When you can no longer find it and have to order it
When you have enough money to pay for it in your budget
8
Which of these should not be in a monthly budget?
The cell phone bill
The grocery bill
Concert Tickets
The electric bill
9
What does it mean to save?
To spend some of your money
To give all your money away.
To have just enough money for bills.
To spend all of your money.
10
When should you use a credit card?
When you don't have enough money to buy something.
When you have more than enough money to buy something.
When you don't have enough money currently but will later.
When you have enough money to buy something.