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Financial Literacy Flashcards | StudBud
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Financial Literacy
Financial Literacy
20 terms
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StudBud Administration
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Test your knowledge on money management, budgeting, savings, credit, and more
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
What is a financial goal?
Money target
Shopping list
Expense tracker
Bank statement
2
Which is a benefit of budgeting?
More expenses
Financial control
More debt
Less savings
3
What is compound interest?
Interest on interest
Simple interest
Interest on savings
Interest on loans
4
What is an emergency fund?
Vacation fund
Shopping money
Rainy day savings
Gift money
5
True or false: Budgeting is only for adults
False
True
6
Which is a fixed expense?
Rent
Entertainment
Clothing
Groceries
7
What is a long-term goal?
New shoes
Monthly rent
Retirement savings
Weekly groceries
8
Which is a variable expense?
Rent
Groceries
Utilities
Insurance
9
Which is a benefit of saving early?
Less stress
More interest
Less income
More expenses
10
What is a checking account?
Loan account
Daily transactions
Long-term savings
Credit account
11
Which is a short-term goal?
College fund
Buying a phone
Buying a house
Retirement savings
12
True or false: Savings grow with interest
True
False
13
True or false: Credit cards are free money
False
True
14
Which affects your credit score?
Payment history
Education
Age
Income
15
True or false: Debit cards build credit
True
False
16
Which is a need, not a want?
Designer clothes
Concert tickets
Food
Video games
17
What is a credit score?
Interest rate
Bank account number
Financial grade
Loan amount
18
How do you feel about money management?
Confused
Clueless
Curious
Confident
19
What is financial literacy?
Math skills
Science knowledge
Reading skills
Money knowledge
20
What is a budget?
Bank account
Credit card
Spending plan
Shopping list
