Financial Literacy

The knowledge and skill base for people to be informed consumers and manage their money effectively

• Personal Finance

• Debt

• Financial Literacy

• Net Worth

All of the financial decisions an individual or family must make about their money

• Give to Others

• 5 Foundations

• Living the Dream

• Personal Finance

What is a budget?

• Money that I can spend on what I want

• Something that is hard to understand

• An organized plan for spending and saving money

If Sammy’s expenses are greater than his income, what must he do to balance his budget?

• Earn more money
• Spend less money on expenses
• Earn more money AND spend less
• None of the above

What is the difference between a want and a need?

• A want is something necessary to live

• A need is something necessary to live

Tags

CCSS.RI.7.2

CCSS.RI.8.2

CCSS.RL.11-12.2

CCSS.RL.8.1

CCSS.RL.9-10.2

In which category are a new car, designer clothes, and gaming systems?

• wants

• needs

• values

• income

What is saving?

• Accumulation of excess funds by intentionally spending less than you make

• Cash set aside to cover the cost of unexpected events

• A monetary asset that contributes to your net worth

• Money available today that is worth more if received in the future

4. When you don't pay in time, owing to much or all negative information that can affect your credit report. Which of these is the most number of years that this negative information will remain on a credit report?

• 15 to 18 years

• 11 to 14 years

• 3 to 6 years

• 7 to 10 years

What is emergency savings?

• Transferring money into your savings before you pay your bills

• Original amount of money saved or invested

• Cash set aside to cover the cost of unexpected events

• Maximizing your return by selling stocks at a higher price than what you paid for

How much money should you save for emergencies?

• 2 months worth of expenses

• 3-6 months worth of expenses

• Cash in whatever stocks you have to pay for an emergency

• As a neighbor for a loan if needed