PFHS 3.02 Financial Literacy

Front

In which category are a new car, designer clothes, and gaming systems? Options: wants, needs, values, income

Back

wants

Front

Why is saving important?

Back

because the future is unpredictable

Front

Which characteristic of being a wise consumer did Sarah violate when she yelled at the sales person after her new phone broke?

Back

complain effectively and refuse poor equipment

Front

When Greg received his first paycheck, he was surprised to see it was much lower than expected. He had not considered the regular deductions that would be taken out of his check. The amount Greg received is referred to as:

Back

net income

Front

When Miranda opened her credit card bill, she was surprised to see that the amount she owed was more than the cost of the things she had purchased. What is the probable cause of this difference?

Back

interest

Front

What type of income was Sally quoted to earn?

Back

gross income

Front

Samantha is looking for an institution for her money management. She is looking for an account that pays interest on deposits, does not have check writing privileges, and has easy withdrawal access on demand. Which type of account would be best for Samantha?

Back

savings account

Front

Money earned from saving accounts and investments is an example of:

Back

income

Front

Fundamental beliefs or practices of personal importance should be placed in which category? (wants, needs, values, income)

Back

values

Front

The newlyweds wanted to start their marriage being financially responsible. What tool could they use to keep track of where their money is going?

Back

spending plan