Personal Financial Literacy

Students who drop out of high school have a 63x higher chance of becoming incarcerated later in life. Why is that?

• They have more time to get into trouble

• They don’t make enough money at a legal job to support lifestyle

• They do not have good influences at home to teach them right from wrong

• All of the above

The Securities Exchange Commission recently ruled the estate of Charlotte businessman Rick Siskey must pay back investors he duped with promises to double their money through investments, when he was really spending it on lavish vacations. What type of fraud was this?

• Tax Fraud

• Pyramid/Ponzi Scheme

• Insurance Fraud

• Identity Theft

Which of the following budget items is an example of a fixed expense?

• Car Payment

• Groceries

• Entertainment

• Vacation

How do banks primarily earn money?

• Through investments made in the stock market

• Through selling foreclosed property

• Through earning interest on loans made to homeowners

• Banks do not make money under any circumstance

Why is it important that people “pay themselves” first before paying any bills?

• There is no benefit to paying yourself first

• You work hard, so you deserve to pay yourself first

• If you wait to buy nice things for yourself until all your budget items are taken care of, you won’t be able to “treat yoself” as much as you want

• If you wait to save money until all your budget items are taken care of, you won’t have as much savings as you could/should

How much a year does the average high school dropout make?

• $19,000-$21,000

• $16,000-$18,000

• $13,000-$15,000

• $10,000-$12,000

In Dropout Nation, only 1 student of the 4 depicted graduated high school or advanced to the next grade level. What did Marco have to ensure his success in school that the other students did not?

• Experience in speaking another language

• Family/Parental Support

• Reliable transportation to get to school

• An easy class load

How does LCS differ from Sharpstown High School (SHS), the school featured in Dropout Nation?

• LCS has a higher concentration of wealth than SHS

• LCS has more highly qualified teachers than SHS

• LCS has a mentoring program to help students connect with teachers who care about them

• All of the Above

What three things should be included in every budget?

• Fixed Expenses, Savings, Credit Card payments

• Fixed Expenses, Savings, Credit Card payments

• Fixed Expenses, Variables Expenses, Savings

• Variable Expenses, Savings, Credit Card payments

What ways can you spend money you placed in your checking account?

• Debit Card

• Writing a Check

• Visiting an ATM or bank teller to withdraw money

• All of the above