Front

What is the primary purpose of a budget?

Back

To allocate spending and savings effectively

Front

Which of the following is an example of a fixed expense? Grocery bills, Rent payments, Utility bills, Entertainment expenses

Back

Rent payments

Front

What does APR stand for?

Back

Annual Percentage Rate

Front

Which app is commonly used for personal finance management?

Back

Mint

Front

Which of these is an advantage of digital financial literacy?
1. Reduced cybersecurity risks
2. Improved understanding of financial tools
3. Elimination of financial fraud
4. Lack of financial regulations

Back

Improved understanding of financial tools

Front

What is the main goal of investment management?

Back

To grow wealth over time

Front

What does "diversification" mean in investing?

Back

Spreading investments across different asset types

Front

Which of these is an investment vehicle? Mutual funds, Credit cards, Bank savings account, Fixed expenses

Back

Mutual funds

Front

What is the role of a robo-advisor in investment management?

Back

Automated software for managing investments

Front

Which term refers to the process of earning interest on both the initial investment and previously earned interest?

Back

Compounding