financial literacy

If you have just been given $1000 to invest, and you want to save the money for college in 6 years, which of the following would be the best choice?

• CD (Certificate of Deposit)

• savings account

• new clothes

• All of the above

You just found out you have a credit score of 450. What should you do?

• Apply for more credit cards

• Pay down the card card balances you have

• Buy a car

• All of the above

Which is a "need?"

• Video Game

• New designer clothes

• iPhone

• a House

You have $1000. You would like to make the most money possible on your investment even if its risky. What should you do?

• savings account

• start a business

• CD

• Stock market

Which is an advantage of a debit card?

• You can buy online

• You can use it at restaurants

• You can buy expensive things

• You can accidentally wash it in the washing machine.

Which is an example of something you could use disposable income to pay for

• Electric Bill

• Food

• A concert ticket

• Rent

Which of the following is deducted from everyone's paycheck in the US whether they like it or not?

• Health insurance

• federal taxes

• Utilities

• food costs

Why is it important for you to understand your parent's household budget at your age?

• So that you can help them pay the bills

• So that you can decided it you should get a part-time job

• to help them with math

• So that you can better understand the value of money and whysome things are "wants and not "needs"

Which of the following items might be included on a person's credit report?

• The limit a person has on their credit card

• How many times a person has paid a bill late

• How much a person owes a credit card company

• all of the above

Which of the following is an example of someone who is OVEREXTENDED?

• They have one credit card for emergencies

• They owe more bills each month than what their net income is

• They pay with cash only

• They pay all their bills on time