Scholars who are good with money know how to do what? (select all the correct answers)

Help others in need., Make a budget., Never to waste money.

Complete the sentence: Saving money is ________________ .

a way to build wealth., something I will do when I get older., hard to do when I have other things I want to buy., a wise thing to do

To best manage your finances, it is important to do what?

Think carefully when making financial decisions.

What are the four parts of a budget?

income, giving, saving, and spending

What is financial literacy?

Knowledge and application of skills to help you get ahead financially.

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Elevate Scholars - Foundations in Personal Finance Review

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Answers

1
Scholars who are good with money know how to do what? (select all the correct answers)
Help others in need.
Ask people to give you more money.
Make a budget.
Never to waste money.
2
Complete the sentence: Saving money is ________________ .
a way to build wealth.
something I will do when I get older.
hard to do when I have other things I want to buy.
a wise thing to do
3
Everybody should set financial goals.
True
False
4
To best manage your finances, it is important to do what?
Think carefully when making financial decisions.
Buy whatever you want, whenever you want.
Get people to agree with you about what you want to do with your money.
Get good at counting your cash and coins.
5
What are the four parts of a budget?
food, clothes, sneakers, jewelry
income, giving, saving, and spending
income, giving, saving, and losing
6
Which of the following is NOT a financial goal?
Getting an extra $100 for your birthday.
Finding money on the ground.
Getting a part-time job.
Saving $500 for something you want to buy later.
7
What is financial literacy?
The curriculum provided for college students about finances.
The information provided in bank statements for consumers.
Knowledge and application of skills to help you get ahead financially.
The skills to read financial documents like bank statements.
8
Financial Literacy unlocks the door to financial success
False
True
9
There are only 25 states that mandate Financial Literacy for High School Graduation requirements.
False
True
10
Why is financial literacy important?
To better understand credit scores, risk, interest rates.
To understand the basics of personal finance and money management.
All of the above.
To understand how to build wealth.

Elevate Scholars - Foundations in Personal Finance Review Flashcards | StudBud