Money Matters: Your Roadmap to Financial Literacy

What is a need?

• Something you want because your friends have it

• Something essential for survival

• A new video game

• A vacation

What is a want?

• Food and water

• A big house

• Medicine when sick

• Education

Which of the following is a benefit of using a debit card?

• You can spend more money than you have

• It directly uses money from your checking account

• You can earn rewards points

• It helps you build credit

What is the main difference between a debit card and a credit card?

• A debit card allows you to earn interest on your purchases

• A credit card is only used for online purchases

• A debit card uses your own money, while a credit card uses borrowed money

• There is no difference

What is a checking account primarily used for?

• Saving money for the future

• Daily transactions

• Earning high interest

• Storing money under your mattress

What is a key benefit of a savings account?

• It allows unlimited daily transactions

• It is used to pay bills

• It earns interest over time

• It offers rewards points

Why is it important to understand the difference between wants and needs?

• To make sure you can buy everything you want

• To help you prioritize your spending

• To impress your friends

• To learn about credit cards

Which of the following is NOT a characteristic of a savings account?

• High number of daily transactions

• Earning interest

• Saving money for future goals

• Safety of deposited funds

Why might someone choose to use a credit card over a debit card?

• To directly spend the money they have

• To earn rewards and build credit history

• Because they don't have a checking account

• Credit cards are easier to use

What is the primary purpose of a checking account?

• Long-term investments

• Daily spending and bill payments

• Earning high interest

• Storing large amounts of money