Financial Literacy

Front

Which of the following is an advantage of using a credit card? Options: Interest is charged for the use of a credit card., Consumers can purchase things now, and pay for them later in the event of an emergency., You could be a victim of identity theft.

Back

Consumers can purchase things now, and pay for them later in the event of an emergency.

Front

If Sammy’s expenses are greater than his income, what must he do to balance his budget?

Back

Earn more money AND spend less

Front

Which of the following is considered an advantage to using a debit card to make purchases? Options: Debit cards are convenient and easy to carry around., Purchases can be made quickly and easily., You can use many ATMs to get cash., All of the above.

Back

All of the above.

Front

An identification card issued by a bank that allows a user to buy items and services immediately and pay the cost at a later time.

Back

Credit card

Front

An identification card issued by a bank that allows a user to immediately use money from an account. You have a personal identification number (PIN) to keep it safe.

Back

Debit card

Front

What is a plan for how you spend your money?

Back

budget

Front

What are useful or valuable things, like property, a car, a home, or money?

Back

assets

Front

What is money you earn?

Back

income

Front

What is assets minus liabilities?

Back

net worth

Front

Why is maintaining good credit important?

Back

Allows you to buy expensive items and pay over time