Financial Literacy

Interest earned on savings may be referred to as:

• opportunity Cost

• Personal Opportunity Costs

• Time Value of Money

• Financial Opportunity Costs

Maria is new to budgeting. Maria's friend advises the that they should "pay themselves first". What does that mean?

• Maria should keep all their savings in a checking account

• Maria should automate monthly transfer to their savings account

• Maris should pay only the minimum due on their credit card bills

• Maria should take more risk in their investments to get higher returns

What is the term used for the amount of money you make before taxes are taken out?

• Gross Pay

• Net Pay

• Tax Free Pay

• Time Value of Money

Why is sending a personalized thank you after a job interview important?

• You can apologize for any mistakes you made in the interview

• Leave a good impression by expanding on an answer/topic

• It shows that you want the job even if you don't really like the company

• It allows you to boast about your accomplishments one last time

A common deduction on a person's paystub would be:

• Gross Pay

• Excise Tax

• Slaes Tax

• Federal Income Tax

A clearly written financial goal would be:

• To save money for college for the next five years

• To establish an emergency fund of $4,000 in 18 months

• To invest in an international mutual fund for retirement

• To pay off credit card bills in 12 months

An example of a long-term goal would be:

• Buying a used car

• An annual vacation

• Completing college in the next six months

• Saving for retirement

An example of a fixed expense is:

• An electrical bill

• Clothing

• Educational expenses

• Auto Insurance

What is the term used for when you give the landlord a payment in case of future damage to an apartment you rent?

• Lease Deposit

• Last Month's Rent Deposit

• Security Deposit

• Insurance Deposit

What is one of the basic rights that a tenant has when renting an apartment?

• Notifying the landlord if major repairs are needed

• Safe and Sanitary Premises

• Taking care of the property

• Paying the rent on time