personal financial literacy

An important belief is considered a

Which is an example of impulse shopping? Check all that apply.

• Avoiding the extra items you see at the register when you wait to check out.

• Sticking to a budget and list.

• Buying all the donuts at Dunkin Donuts.

• Buying a new TV when your current one works well.

If you use a credit card,

• You may have to pay interest in addition to purchase price

• You can make purchases you do not have the money for.

• You never have to pay back the money.

• You have to pay back the money you spend.

Which of the following would be a government funded public good and/or service?

• a library

• a mall

• A toy store

• A restaurant

________ is money set aside to be used later or for emergencies, often stored in a bank savings account to grow by earing interest.

• Stock

• Savings

• Debt

• Account

How are credit cards and debit cards different?

• they are exactly the same

• a credit card is a loan, while a debit card deducts money directly from your checking account

• a credit card allows you to purchase gas only

• a debit card is a loan, while a credit card deducts money directly from your checking account

Abe, a 35-year-old teacher, is saving money for five things: 1. Retirement 2. A bowling ball 3. A family camping trip in the summer 4. His 7-year-old son’s college tuition 5. His 15-year-old daughter’s college tuition. Which items from the list represent short-term savings goals for Abe?

• 2 and 3 only

• 3 only

• 4 and 5

• 5 only

How much money you want to spend and how much you want to save

• Credit card

• King Julian from Madagascar

• Budget

• Income

A fee paid for borrowing money or money earned on a savings account

• credit

• debit

• debt

• interest

If I spend $80 on new shoes, what is a possible opportunity cost?

• I will have to wear those shoes every day.

• What is opportunity cost??

• I won't have $80 to spend on something else.

• I should have compared prices.