Financial Literacy

Financial literacy is the ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing.

An income tax bracket is a range of income that is taxed at a specific rate. As income increases, it may fall into higher tax brackets.

1. Graduating from high school. 2. Waiting to get married until after 21 and do not have children till after being married. 3. Having a full-time job.

Buying a stock means purchasing a small piece of ownership in a company.

The longer money is invested, the more it can grow due to compound interest.

True, most millionaires are college graduates.

Compound interest is the interest on a loan or deposit calculated based on both the initial principal and the accumulated interest from previous periods.

A budget is a financial plan that outlines expected income and expenses over a specific period.

The purpose of saving money is to set aside funds for future needs or emergencies.

A credit score is a numerical representation of a person's creditworthiness, based on their credit history.