Financial Literacy Flashcard

Front

Making decisions early in life about education and savings can impact:

Back

Your financial security and career opportunities later in life

Front

How can poor spending habits in your youth affect your later years?

Back

They could limit your ability to retire comfortably.

Front

The financial decisions you make at 25 might affect:

Back

Your ability to purchase a home at age 35

Front

When researching investment options, which source would provide the most reliable information? A personal blog about investment tips, A government website or financial institution, A friend who is a casual investor, A social media advertisement

Back

A government website or financial institution

Front

Where is the best place to find up-to-date tax information?

Back

The IRS website

Front

Which of the following is a key consumer protection law that helps safeguard individuals' credit card transactions?
The Fair Credit Reporting Act, The Fair Debt Collection Practices Act, The Credit Card Accountability, Responsibility, and Disclosure Act, The Consumer Product Safety Act

Back

The Credit Card Accountability, Responsibility, and Disclosure Act

Front

When considering buying a new car, which is an example of a financial alternative to buying the car outright? Options: Leasing the car, Using a credit card to pay for the entire car, Ignoring the need for car insurance, Investing the money in a mutual fund

Back

Leasing the car

Front

A financial decision should include: Only the initial cost, The long-term financial impact of the decision, The opinions of your friends and family, The immediate gratification you receive

Back

The long-term financial impact of the decision

Front

If you are considering taking a loan, which of the following is an important factor to evaluate? The cost of the loan over time, The color of the loan form, The interest rate charged by the lender, All of the above

Back

All of the above

Front

What is a good strategy for discussing financial problems with a partner?

Back

Be clear, calm, and focus on finding solutions.