Financial Literacy Pre-Assessment 💰

Front

What does it mean to "earn" money?

Back

To receive money in exchange for goods or services.

Front

What is the purpose of a "savings account" in financial planning?

Back

To earn interest on your saved money and reach financial goals.

Front

What is a "want"?

Back

A desire for something that is not necessary for survival, such as going out for pizza with friends.

Tags

CCSS.RL.4.2

CCSS.RL.4.9

CCSS.RL.5.2

CCSS.RL.5.9

CCSS.RL.6.2

Front

What is a "need"?

Back

Something essential for survival, like food, water, and shelter.

Tags

CCSS.RL.3.3

CCSS.RL.4.3

CCSS.RL.5.3

CCSS.RL.6.3

CCSS.RL.7.3

Front

What is a "budget"?

Back

A plan for how you will spend and save your money.

Front

What does it mean to "live within your means"?

Back

Spending less money than you have.

Tags

CCSS.RI.4.4

CCSS.RI.5.4

CCSS.RL.4.4

CCSS.RL.5.1

CCSS.RL.5.4

Front

What is "interest" in terms of savings?

Back

The money earned on your savings account over time.

Tags

CCSS.7.RP.A.3

Front

What is the difference between a "need" and a "want"?

Back

A need is essential for survival, while a want is a desire for something extra.

Tags

CCSS.RI.4.2

CCSS.RI.5.2

CCSS.RL.5.1

CCSS.RL.5.2

CCSS.RL.6.1

Front

What is a "financial goal"?

Back

A target amount of money you want to save or earn over a specific period.

Front

What does it mean to "save" money?

Back

To set aside a portion of your income for future use.

Tags

CCSS.RI.4.3

CCSS.RI.5.3

CCSS.RI.5.5

CCSS.RI.6.3

CCSS.RI.6.5