BASICS OF FINANCIAL LITERACY

Which of these statements is NOT correct:

• Being Financial Literate means knowing how to keep what you earn

• Financial literacy means the money is controlling you

• Both a) and b)

• None of the above

Without proper financial knowledge:

• Likelihood of financial struggle increases

• Financial success becomes very difficult

• Both a) and b)

• Neither a) nor b)

Which of these is NOT a habit of Financially Literate People:

• They take debts for fulfilling their wants

• They develop a budget

• They save consistently

• They take control of their cash flows

Which of the following should be part of your financial life:

• Savings for unforeseen medical emergencies

• Take high-interest Debts

• Unnecessary buying things during Sale

• None of the above

Which of the following is an example of Money Trap:

• High Interest/Easy Debt

• Unforeseen Emergencies

• No Savings

• All of the above

State the INCORRECT Statement:

• Financial Literacy teaches us to build our personal wealth

• Financial Literacy is not required for Housewives

• We can manage our financial life irrespective of our earnings and social status

• Savings is must for Everyone

What do you think is CORRECT statement with reference for Life Cycle Stages:

• You need not worry about retirement until it comes

• You need to plan for retirement during the earning stage

• The earning stage of your life needs to take care of your children’s first stage i.e. non earning life

• Both b) and c)

Why do you need Financial Literacy:

• It gives peace of mind

• It secures your future

• Both a) and b)

• None of the above

Which of the following are part of Financial literacy:

• Knowing your money

• Managing your money

• Controlling your money

• All of the above

Which of the following statements is CORRECT:

• Financial literacy is not required by Super Rich People

• You need to have financial literacy only if you are earning well

• You need not worry about financial literacy until you start earning

• None of the above