Personal Financial Literacy

Which of these is a need, not a want?

• Video games

• Ice cream

• Water

• Toys

What do we call the money people earn from working?

• Savings

• Income

• Debt

• Loan

What is it called if you put your money in a bank to use for later?

• Spending

• Saving

• Borrowing

• Donating

What does labor mean?

• How much money a person saves

• How much a person works

• How much money a person owes

• How many years a person went to college

Which of the following is a good way to save money?

• Spend all your money right away

• Put some money in a piggy bank

• Give all your money to a friend

• Lose your money

Mr. Smith is an elementary school teacher. Which factor most likely affects the amount of money the school pays him?

• The distance he lives from the school

• The number of teacher friends he has at school

• The number of years of teaching experience he has

• The number of staff meetings he goes to after school.

Mrs. Williams borrowed $6,000 from the bank to pay for car repairs. She paid $7,500 back. Which of these is most likely the reason she paid the bank back more than she borrowed?

• She miscalculated the amount of money she needed to pay back.

• She ended up needing more than $6,000 in home repairs

• She had to pay interest on the money she borrowed

• She had to pay taxes on the money she borrowed

Which statement is an example of using credit?

• 1. Dante saves $1,000 per paycheck

• Bailey budgets $1,000 each week for groceries

• Maria borrows $1,000 for car repairs

• Nina's grandma gave her $1,000 for her birthday

Which of the following is an example of an unplanned expense?

• Buying groceries

• Buying gas to fill up your car

• Paying your monthly cellphone bill

• Paying a hospital bill after breaking your arm

What is debt?

• Money earned

• Money spent

• Money saved

• Money owed

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