What is financial literacy?

understanding how money works in the world

What are the names of each attitude?

Frugal, pleasure, status, indifference, powerful, and self worth

What does it mean to be financially responsible?

Saving and managing your money wisely

What is the definition of powerful?

Believes money makes one feel in control of his/her life

What is the definition of indifference?

Rather spend time on things such as hobbies, sports, outdoors

What is the definition of Self-Worth?

Measures own value by how much money one has

What is the definition of Status?

Having money and "things" will bring more happiness

What is the definition of pleasure?

Loves to spend money on whatever will make them happy

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Attitudes about money/Financial Literacy

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Questions 13

Answers

1
What is financial literacy?
using money wisely
understanding how money works in the world
reading books about money
using money unwisely
2
Nick spent his money on an iPhone. Alex saves her money. Which is more financially responsible?
Nick
Alex
3
What is the definition of frugal?
Loves to hold and save money
Loves to spend money on whatever will make them happy
Wants to make things happen
Measures own value by how much one has
4
What are the names of each attitude?
Frugal, pleasure, static, indifference, powerful, self sufficent
Frugal, pleasure, status, indifference, powerful, and self worth
Frugal, plastic, status, painful, self righteous
Pleasure, status, indifference, powerful, self worthy
5
What does it mean to be financially responsible?
Getting the newest phone every year
Going out to eat every day of the month
Saving and managing your money wisely
Buying that one scarf you saw that you just had to have
6
What is the definition of powerful?
Loves to hold and save money
Takes risks to make more money
Believes money makes one feel in control of his/her life
Borrows money to spend now
7
Why is financial literacy important?
to understand how to build wealth
to know the basics of personal fiance and money management
All of the above
to better understand credit scores, risk, interest rates
8
What is the definition of indifference?
Avoids materialistic things
Wants to make things happen
Believes that money is security
Rather spend time on things such as hobbies, sports, outdoors
9
What is the definition of Self-Worth?
Feels nervous about money
Feels nervous about money
Measures own value by how much money one has
Loves to hold and save money
10
How many attitudes about money do we have?
10
4
6
5
11
Financial Literacy can benefit you because you will have a large sum of money to fall back on for emergencies
True
False
12
What is the definition of Status?
Having money and "things" will bring more happiness
Doesn't like saving
Wants to make things happen
Avoids money, Feels nervous about money
13
What is the definition of pleasure?
Being good at budgeting, prioritizing, and waiting until things are on sale
Takes risk to make more money
Loves to spend money on whatever will make them happy
Feels nervous about money

Attitudes about money/Financial Literacy Flashcards | StudBud