Financial Literacy

What does it mean to budget?

• Planning how to spend your money wisely to meet your needs and goals.

• Saving all your money without spending any.

• Investing in stocks and bonds only.

• Spending money as quickly as possible.

What is savings?

• Savings is the money that you set aside for future use, often kept in a bank account.

• Savings is the amount of money you spend on daily expenses.

• Savings is the money you invest in stocks and bonds.

• Savings is the money you borrow from a bank.

What is income?

• Income is the money you earn from work, investments, or other sources.

• Income is the total amount of money spent on living expenses.

• Income is the money received from selling goods only.

• Income is the profit made from business transactions.

What is a debit card?

• A payment card that allows you to spend money directly from your checking account.

• A card that allows you to borrow money from a bank.

• A card used exclusively for online purchases.

• A type of credit card that builds your credit score.

What is a credit card?

• A payment card that allows you to borrow money from a bank to make purchases, which you must pay back later.

• A card that provides discounts on purchases at specific stores.

• A debit card that deducts money directly from your bank account.

• A loyalty card that earns points for future purchases.

What is a check register?

• A document used to track stock market investments.

• A booklet used to record checking account transactions, including deposits and withdrawals.

• A form for applying for a credit card.

• A ledger for managing savings account balances.

What is a financial literacy?

• The ability to understand and effectively use various financial skills, including personal finance management.

• A method of saving money for future investments.

• A type of insurance that protects against financial loss.

• A government program that provides financial assistance to individuals.

What does it mean to invest?

• Using your money to buy assets that you expect will grow in value over time.

• Saving money in a bank account with no interest.

• Buying items that will depreciate in value over time.

• Spending money on immediate consumption without any future returns.

What is a budget plan?

• A plan for saving money only

• A detailed outline of expected income and expenses over a certain period.

• A method to invest in stocks

• A strategy for reducing debt

What is a loan?

• A loan is money that is borrowed and must be paid back with interest.

• A loan is a gift that does not need to be repaid.

• A loan is an investment made by a bank to increase its profits.

• A loan is a type of insurance policy for financial security.