Understanding Financial Literacy

What is the first step you should take when starting to manage your money?

• Apply for a credit card

• Invest in stocks

• Start with a budget

• Open a savings account

At what age can you open a savings account without parental assistance?

• 25 years

• 21 years

• 18 years

• 16 years

Which of the following is NOT a feature of a checking account?

• Long-term savings

• Using a debit card

• Making payments

• Writing checks

What is a major risk associated with using credit cards?

• Automatic savings

• Earning too much interest

• Overspending

• Low interest rates

What should you frequently change to secure your online banking accounts?

• Your phone number

• Your account number

• Your address

• Your password