Personal Financial Responsibility

Front

What does it mean to be financially responsible?

Back

Being financially responsible means managing your money wisely, which includes budgeting, saving, and making informed spending decisions.

Front

True or False: Making a budget is essential for financial responsibility.

Back

True

Tags

CCSS.RI.7.2

CCSS.RI.8.2

CCSS.RL.7.1

CCSS.RL.7.2

CCSS.RL.8.1

Front

What is a budget?

Back

A budget is a plan that outlines expected income and expenses over a specific period, helping individuals manage their finances.

Front

True or False: You should always look for the highest interest rate on a credit card.

Back

False

Front

What is the importance of saving money?

Back

Saving money allows individuals to prepare for future expenses, emergencies, and larger purchases without relying on credit.

Front

True or False: Spending money on wants should fit into your budget.

Back

True

Front

What is a direct deposit?

Back

A direct deposit is an electronic transfer of money from an employer directly into an employee's bank account, often used for salary payments.

Front

What should you do if you want to buy something expensive?

Back

You should save money over time or create a budget to ensure you can afford it without going into debt.

Tags

CCSS.RI.7.3

CCSS.RI.7.5

CCSS.RI.8.3

CCSS.RI.8.5

CCSS.RI.9-10.5

Front

True or False: It's okay to use credit cards for purchases if you can pay them off immediately.

Back

True

Front

What is the benefit of setting financial goals?

Back

Setting financial goals helps individuals focus their saving and spending efforts, making it easier to achieve desired outcomes.