Financial Literacy- Principles of Business

What is the beginning of a checklist for financial literacy?

• Knowing how to save money

• Learning about different currencies

• Understanding the stock market

• Being able to identify what is a NEED and a WANT

What rule is suggested for budgeting monthly income?

• 80-10-10 rule

• 50-30-20 rule

• 70-20-10 rule

• 60-30-10 rule

What is a key aspect of becoming more valuable to employers?

• Attending more meetings

• Working harder than others

• Taking longer breaks

• Asking for more salary

What is the best reason for a high school student with a part-time job to start saving?

• The habit of saving

• To have spending money

• For unexpected expenditures

• To buy a new car

Imagine you have $500 to start investing in the stock market. What is the most recommended type of investment for you?

• Buying a single stock

• Investing in a mutual fund or ETF, stocks

• Purchasing gold

• Starting a business

What does owning a stock in a company entitle you to?

• A position in the company

• A stream of profits the company will hopefully make

• Ownership of the company's products

• A fixed annual income

What is the most powerful force in the universe according to Albert Einstein?

• Electromagnetism

• Gravity

• Nuclear force

• Compound interest

What is a liability?

• Money you earn

• A financial plan

• An asset you own

• A debt you owe

What can excessive debt lead to?

• Financial security

• Increased savings

• Higher income

• Emotional drain and loss of hope

What is essential for successful personal finance?

• Spending more money

• Borrowing as much money as possible

• Following sound principles and cultivating them as a way of life

• Avoiding all types of investments