HUMSS 12 TRENDS

Who defines financial literacy as “the ability to use knowledge and skills to manage one’s financial resources effectively for lifetime financial security.”

• Mandell

• Huston

He said financial literacy is made up of two elements: understanding and use. Understanding financial literacy implies that a person is knowledgeable about personal finance, and applies such knowledge in dealing with one’s finances.

• Mandell

• Huston

Which of the following is a determinant of a financially literate person?

• Plans, saves, invests in stocks

• Less Credit debt

• Using less high-cost borrowing methods

• Cannot manage loan

What percent of the income should be alloted to Savings?

• 20%

• 30%

• 50%

What percent of the income should be alloted to your wants?

• 30%

• 50%

• 20%

What percent of the income should be allotted to your needs?

• 30%

• 50%

• 20%

Give at least 4 saving tips for students.

Which is the safest method to deposit your money?

(a)  

What are the 3 common depository accounts to earn interest.

Where can money be saved?

• Piggy Bank

• Under your mattress

• Cans

• Jars