
Basic Financial Literacy
Authored by Wayground Content
Life Skills
6th - 8th Grade

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16 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Income
Money a person earns from working, doing chores, or other sources.
A type of investment that generates profit.
A fixed amount paid to someone for their services.
The total value of all assets owned by an individual.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Budget
A plan for how you will spend and save your money.
A document that tracks your expenses only.
A method to increase your income without spending.
A strategy to avoid all financial commitments.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Hourly Pay
When you earn money based on how many hours you work.
When you receive a fixed salary regardless of hours worked.
When you earn bonuses based on performance.
When you are paid weekly regardless of hours worked.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Expenses
Things you spend money on, like food, clothes, or rent.
Items that increase your income.
Things you save for future use.
Unnecessary purchases that can be avoided.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Salary
A fixed amount of money you earn every year, no matter how many hours you work.
An hourly wage that varies based on the number of hours worked.
A bonus paid at the end of the year based on performance.
A commission based on sales made during the month.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Gross Income
The total amount of money you earn after taxes and deductions.
The total amount of money you earn before anything is taken out (like taxes).
The amount of money you have left after expenses.
The amount of money you save from your earnings.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does it mean to "PYF"?
Pay Yourself First.
Pay Your Fees.
Pay Your Friends.
Pay Your Future Self.
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