1) Personal Financial Literacy STAAR Review
Flashcard
•
Mathematics
•
8th Grade
•
Practice Problem
•
Easy
+11
Standards-aligned
Wayground Content
Used 1+ times
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15 questions
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1.
FLASHCARD QUESTION
Front
What is Personal Financial Literacy?
Back
Personal Financial Literacy is the ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing.
2.
FLASHCARD QUESTION
Front
Define 'Budget'.
Back
A budget is a plan that outlines expected income and expenses over a specific period, helping individuals manage their finances.
3.
FLASHCARD QUESTION
Front
What is the purpose of saving money?
Back
The purpose of saving money is to set aside a portion of income for future needs or emergencies, allowing for financial security and the ability to make planned purchases.
Tags
CCSS.RI.7.3
CCSS.RI.7.5
CCSS.RI.8.3
CCSS.RI.8.5
CCSS.RI.9-10.3
4.
FLASHCARD QUESTION
Front
Explain the concept of 'interest'.
Back
Interest is the cost of borrowing money or the earnings from saving or investing money, usually expressed as a percentage of the principal amount.
5.
FLASHCARD QUESTION
Front
What is a 'credit score'?
Back
A credit score is a numerical representation of a person's creditworthiness, based on their credit history and financial behavior.
6.
FLASHCARD QUESTION
Front
Define 'debt'.
Back
Debt is an amount of money borrowed by one party from another, which is expected to be paid back with interest.
Tags
CCSS.RI.11-12.5
CCSS.RI.6.5
CCSS.RI.7.5
CCSS.RI.8.5
CCSS.RI.9-10.5
7.
FLASHCARD QUESTION
Front
What is the difference between 'wants' and 'needs'?
Back
Wants are non-essential items or services that enhance quality of life, while needs are essential for survival and basic functioning.
Tags
CCSS.RI.7.2
CCSS.RI.8.2
CCSS.RL.7.1
CCSS.RL.7.2
CCSS.RL.8.1
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