Financial Literacy Final Study Guide- Spring 2025

Front

________ is a fee charged for using borrowed money for a purchase.

Back

interest

Front

A(n) ________ is anything you own that has value.

Back

asset

Front

________ means having the knowledge and skills to manage your personal finances.

Back

financial literacy

Front

________ relates to all of the different money decisions you make each day.

Back

personal finance

Front

Taxes and withholdings impact your ________, which is the amount of money you take home in your paycheck.

Back

net income

Front

A __________ is the same from month to month.

Back

fixed expense

Front

The cost of your gas and groceries is considered a ___________.

Back

variable expense

Front

To budget with a(n) ____________, prioritize expenses from the most to least important so your most important expenses are covered first.

Back

irregular income

Front

What's the first priority under "expenses" when creating your monthly budget? Options: giving, entertainment, travel, shopping

Back

giving

Front

What's it called when you make money on the percentage of the total sales you make?

Back

commission