Finance Lesson 1

Which one is a type of retirement plan?

• 901(b)

• 401(k)

• 408(c)

• 101(g)

ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing.

• Financial Literacy

• Budgeting

• Value Literacy

Most teenagers do not feel they have enough understanding of finance to manage their money.

• True

• False

What is a good way to be mindful of your spending

• Understand your needs and wants

• understand the stock market

• understand politics

• understand the bond market

Buying the latest Jordans is a

• Want

• Need

Buying food for your family is a

• need

• Want

Is money more valuable now or later?

• Now

• later

If you lend your friend money you should charge them

• Dividend

• Yield

• Interest

• Favor

Whats better compound or simple interest

• Compound

• Simple

If you have 5000$ in debt at 22% APR what should be your priority if you have 5000$?

• Pay it all off

• Pay half of it and save half of it in a savings account that gives .01APY.

• Save your money and continue paying your monthly credit bill

• Invest your money in the stock market