Chapter One Financial Literacy

________ on credit is a fee you pay on top of the money you already owe.

• Interest

• Mortgage

• Savings

• Equity

Investments are things that are purchased with an expectation that they will ________.

• Grow too slowly

• Diminish in results

• Decrease over time

• Grow in value

What percentage of personal finance is behavior?

• 10%

• 20%

• 80%

• 90%

You can give by giving your time.

• True

• False

Using a credit card means you ______ to buy stuff.

• Barter clothing

• Use debt

• Use cash

• Use the money in your account

What percentage of personal finance is head knowledge?

• 80%

• 20%

• 30%

• 50%

This plan for your money is called a(n)_______.

• Money Plan

• Organizer

• Schedule

• Budget

There are 4 financial topics for talking money with others. There is work, spend and save. What is the fourth?

• Debt

• Loans

• Give

• Credit

There are 5 foundations of saving money. What is the first one?

• Get out of debt

• Pay cash for your first car

• build wealth and give

• Save a $500 emergency fund.

Anything of value that is owned by an individual is a(n)_______.

• Asset

• Liability

• Investment

• Expense