Financial Literacy Quiz

the art of managing your income and your assets

money that is earned or unearned in a specific time frame.

anything you own that can be converted into cash. Ex. Car, Home, Boat

the part of your income that is not spent. It is usually put into a bank account

the purchase of a financial product or other item of value with an expectation of a profit. Ex. Stocks and Bonds

money that is spent on needs and goods.

costs that fluctuate. Ex. Telephone bill, Electric Bill, Water Bill

costs that stay the same. Ex. House payment, Car payment, Daycare

how you manage your money

is basically budgeting all of your money that is received and then adjusting it according to your needs.