Financial Literacy/Personal Finance Unit

What is the knowledge and skill-set necessary to be an informed consumer and to manage your finances effectively?

• Economics

• The Five Foundations of Financial Success

• Financial Literacy

• Business Knowledge

What percentage of Americans live paycheck to paycheck?

• 25%

• 40%

• 50%

• 70%

What keeps most Americans from building wealth?

• Unemployment

• Problems at Home

• Debt

• Lack of Financial Knowledge

Which of the following prey on people in desperate financial situations, and charge extremely high interest rates?

• Banks

• Credit Card Companies

• Mortgage Lenders

• Predatory Lenders

What is the purpose of a credit score?

• To apply for a credit card

• To help you save money

• A reliable assessment of your credit-worthiness and risk

• To determine how quickly you can get out of debt

What is interest that is paid on interest previously earned?

• Compound Interest

• Inflation

• Taxes

• Overdraft Fees

A person that starts his or her own business

• Engineer

• Manager

• Entrepreneur

• Adviser

_________ is owing anything to anyone for any reason.

• Credit

• Loan

• Debt

• Mortgage

Which is NOT a financial norm for typical American families?

• Most American families are broke

• Most American families are financially secure

• Debt keeps American families from building wealth

• American families are drowning in debt and buying things they can't afford

What is a written plan that manages all of your cash and spending each month?

• Bank Statement

• Tax Return

• Credit Plan

• Budget