When do you pay interest?

when you don’t pay your credit card on time

What is the importance of financial literacy?

It helps you make informed financial decisions

What is the definition of interest?

The amount of money you pay to borrow money

Choose the example of a long Term Goal ( 10+ years away)?

I will finish school (high school, college, university)

How can you save money?

By creating a budget and sticking to it.

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Financial Literacy

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Questions 12

Answers

1
Choose the example of a Short Term Goal ( 0-2 years away)?
I will buy my first Tesla
All answers are correct
I will finish grade 5 or 6
will have a credit card
2
How much is HST (Tax)?
13%
3%
All answers are correct.
30%
3
Choose the example of a Medium Term Goal ( 2-10 years away)?
I will get my first job
I will start high school
All answers are correct
I will get my driver’s licence
4
When do you pay interest?
when you pay too much on your credit card
when you don’t pay your credit card on time
when you use your credit card
5
Who would have a hard time paying at the store that is Cash-less?
All answers are correct.
Oliver’s dog named Charlie
someone who forgot their cards at home
someone who is not able to have a debit/credit card
6
A credit card is money you own?
False
True
7
How does Ms Bee know that you don’t have a credit card?
Ms. Bee is just assuming she doesn’t know for sure.
You don’t have enough money to put on a credit card
You are not 18 years old
8
What is the importance of financial literacy?
It helps you make informed financial decisions
It doesn't have any importance
All answers are correct.
It helps you spend more money on things you don't need
9
What is the definition of interest?
The amount of money you pay to borrow money
The amount of money you earn on a savings account
The amount of money you owe on a loan
All answers are correct.
10
Choose the example of a long Term Goal ( 10+ years away)?
I will graduate from St Vincent de Paul
I will finish school (high school, college, university)
All answers are correct
I will buy my first pet T-Rex
11
A debit card holds?
Money that you borrow from the bank and must return
Starbucks stars that you can redeem
Money that you own
All answers are correct
12
How can you save money?
By using cedit cards to make purchases
By spending more money than you earn.
All answers are correct.
By creating a budget and sticking to it.

Financial Literacy Flashcards | StudBud