Financial Literacy - Pre-Test

Front

What is financial literacy?

Back

Knowing and understanding how finances work

Front

People who do not understand the difference between ______________ usually struggle with financial problems.

Back

Needs and wants.

Front

A _______________ is a plan for how you will spend your money.

Back

Budget

Front

Developing a financial lifestyle that fits the amount of money you will earn in your career and is the secret to financial success is called:

Back

A journey driven lifestyle

Front

Why do successful people set goals?

Back

Goal-setting allows them to measure progress toward accomplishments or lifestyle changes they desire and provides them with direction.

Front

Which of the following states the five important components of a good goal? General, revised, active, safe, sound., Specific, measurable, achievable, realistic, time-driven., Written, clear timeline, research-based, influenced by family, influenced by friends., All of the above.

Back

Specific, measurable, achievable, realistic, time-driven.

Front

How can I start setting personal goals now?

Back

Daydream, think about or research the type of lifestyle you want to live, and write down ideas.

Front

How can automating my finances save me time, protect my credit, and earn me extra money?

Back

Having bills paid automatically will save time and setting up direct deposits from your employer means maximum interest each month. It organizes all your accounts in one place that can easily be reviewed and updated online, and ensures bills are paid on time to protect credit.

Front

Choose the answer that best describes how to automate your finances.

Back

Have your employer direct deposit your paycheque, set up automatic bill-pay, set up automatic transfers to your savings account, and track all your finances online.

Front

What first step should I take to automate my finances?

Back

Open a checking and savings account.