Financial Literacy

Which of the following would be considered an unexpected expense?

• Car Insurance
• Internet Bill
• Rent
• Your car broke down.

Which of the following would be considered a 'want'?

• A skateboard
• Home
• Food
• School

Which of the following statements is most likely true?

• College is inexpensive.
• The more education you get, the more money you will make.
• Everyone must go to college.
• A university is the only kind of school you can attend after high school

A winter storm in Florida killed many of the oranges that were growing. What might happen now?

• There will be fewer oranges for sale (they will be scarce).
• The demand for oranges will be high; the supply will be low.
• The price of oranges will go up.
• All of the above.

Which is the best reason for not using a credit card to pay for something you want?

• The credit card might break.
• You will end up paying interest.
• Someone might steal your card.
• Others will know your name.

Why should you make a budget?

• To practice your addition skills.
• To explain why you need more money to spend on fun things.
• So that you know exactly how much money you have to spend.
• To predict your unexpected expenses.

Something is usually expensive if:

• The demand is high and the supply is low.
• It comes from a different country.
• The demand is low and the supply is high.
• It is made out of leather.

What is a good reason to give to charity?

• You feel better about yourself.
• You make the world a better place.
• You can help others.
• All of the above.

If you wanted a new bike that cost $100 and didn’t have enough money to buy it, what could you do?

• Save $10 for five weeks.
• Save $10 for ten months.
• Save $5 for ten weeks.
• Save $25 for three months.

Ben earns $700 a week, Brad earns $925 a week, and Maria earns $1400 a week. Which statement about their knowledge and work skills is most likely to be true?

• Maria had no additional training or education past high school.
• Brad has the least training and work skills.
• Ben has the least training and work skills.
• Brad went to medical school.