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Financial Literacy Flashcards | StudBud
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Financial Literacy
Financial Literacy
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Answers
1
Ramon Keeps exceeding his weekly budget by $100. Which is the best way for him to balance his budget from now on?
Skip school one day of every week
Find a roommate to share the rent
Sell some of his clothes every week
Walk to all of his destinations
2
Balancing a budget
Apply for a loan with a zero-interest
Don't pay one of his bills for this month
Convince his parents to sell him their computer
Ask his landlord to ignore this month's rent
3
Michelle's car broke down. Which is the best way to pay for this cost.
Apply for a bank loan with an interest fee
Apply for a zero-interest credit card at the shop
Use one of her high-interest credit cartds
Borrow money from a friend who wants repayment in a week
4
Tanya worked 23.86 hours for $10.50 an hour. After taxes, she took home a total of $203.16. Which type of tax is taken?
Payroll tax
Income tax
Property tax
Sales tax
5
Gross and Net income
B
A
C
D
6
If the payment is paid after the due date, a late fee will charged.
Disadvantage
Advantage
7
Natasha's rent is being raised next month. Which of these is the most reasonable expense for her to cut back on?
health care
entertainment
transportation
food
8
Taxes
Sales tax
Income tax
Property tax
payroll tax
9
Gross and Net income
$1,025
$1,375
$700
$500
10
In case of emergency, a credit card can be used to pay for the emergency.
Advantage
Disadvantage
11
Terrell purchased a new car and he has now exceeded his budget. Which is the best way for him to balance his budget.
Take out a high-interest loan
Eat only apples
Get a second job
Move back in with his parents
12
Mike received his bank statement. Which of the following actions would be beneficial to keep his financial records?
Ignore the bank statement
File the bank statement with other important financial documents.
Put the bank statement in the desk
Use the bank statement as scratch paper.
13
gross and net income
D
A
B
C
14
Disadvantage or advantage? You can make online purchases using a credit card.
True
False
