Ch 10 Financial Literacy

Front

_______ is money earned over a set period of time, such as through a job or investments.

Back

Income

Front

Fixed expenses are those which...

Back

Generally do not change from one month to the next

Front

Good debt is debt that...

Back

Fits in your plan for financial fitness.

Front

What is debt?

Back

Money you have borrowed and must pay back.

Front

Which type of account is used to store your money long term while earning a little interest?

Back

Savings

Front

Which type of account is kind of like a wallet in that it simply holds the money you spend on daily expenses? Options: Savings, Interest-bearing, Checking, Credit Card

Back

Checking

Front

A credit card is money you borrow and must pay back. A debit card uses your own money, and is just a more convenient payment method than carrying cash. True or False?

Back

True

Front

A subsidized grant must be paid back, but the government will cover the interest while you are in college.

Back

True

Front

FAFSA STANDS FOR...

Back

Free Application for Federal Student Aid

Front

Which of the following is the most important aspect of financial literacy? Having a financial plan, Keeping your income lower than your expenses, Having a high income, Avoiding impulse buys

Back

Having a financial plan