Financial Literacy

It is a good idea to save money.

• True

• False

What is a loan?

• Free money

• A fee that you have to pay

• Something that you borrow, usually money

• A plan for using money

Money that you earn is called....

• Income

• Loan

• Budget

• Charity

Things that are essential like shelter and food.

Things we would like to have but do not need them to survive.

Money you pay when you borrow money, beyond the amount borrowed.

• Credit

• Income

• Banks

• Interest

This is when human wants or needs exceeds the resources that are available.

• Wants

• Resources

• Scarcity

To save money for a goal, such as purchasing a car, home or to pay college.

• Planned Spending

• Unplanned Spending

Money saved for a “rainy day”. Spending that may be necessary. For example, car repair or having to go to the doctor.

• Unplanned Spending

• Planned Spending

What will happen to the price of the crop of apples after the trees are damaged by a snow storm?

• The price of the apples will likely stay the same

• The price of the apples will likely increase

• The price of the apples will likely decrease

• The apples will be free