Financial Literacy

Financial Literacy

Assessment

Flashcard

Social Studies

9th Grade

Easy

Created by

Wayground Content

Used 1+ times

FREE Resource

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10 questions

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1.

FLASHCARD QUESTION

Front

What is the importance of having a savings account?

Back

Savings accounts help individuals save money for emergencies, future expenses, and long-term goals, while also earning interest and providing financial security.

2.

FLASHCARD QUESTION

Front

How can setting financial goals help you manage your money better?

Back

Setting financial goals provides direction, motivation, and focus to manage money effectively.

3.

FLASHCARD QUESTION

Front

What are some common reasons people struggle to save money?

Back

Living beyond their means, lack of budgeting, impulse spending, high debt levels, inadequate financial education

4.

FLASHCARD QUESTION

Front

Explain the concept of 'paying yourself first' when it comes to saving.

Back

Paying yourself first involves setting aside a portion of your income for savings before using the remaining for expenses.

5.

FLASHCARD QUESTION

Front

What are some short-term financial goals you can set for yourself?

Back

Creating a budget, setting a savings goal, cutting down on expenses, increasing income, and paying off debts.

6.

FLASHCARD QUESTION

Front

How can creating a budget help you achieve your financial goals?

Back

By providing a clear overview of income and expenses, allowing for better financial planning, identifying areas to cut costs, and ensuring funds are allocated towards specific goals.

7.

FLASHCARD QUESTION

Front

What are some strategies to increase your savings over time?

Back

Set a budget, automate savings transfers, cut unnecessary expenses, increase income, and review financial goals regularly.

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