Understanding Financial Literacy for Kids

What is something you absolutely need to live?

• A favorite toy

• Food

• A video game

• A skateboard

What is a budget?

• A kind of animal

• A new video game

• A type of food

• A plan for managing money

Tags

CCSS.7.EE.B.3

CCSS.7.RP.A.2

CCSS.7.RP.A.3

Why should you make a budget?

• To spend all your money

• To live within your means

• To avoid saving money

• To borrow more money

Tags

CCSS.7.EE.B.3

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CCSS.7.NS.A.1

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Why is it important to save money?

• To buy snacks

• To have money for the future

• To watch TV

• To play games

Tags

CCSS.4.MD.A.2

What is interest in terms of saving money?

• A school subject

• A type of game

• Extra money earned on savings

• A hobby

Tags

CCSS.6.RP.A.3C

What does it mean to borrow money?

• To earn interest

• To save money in a bank

• To lend money to a friend

• To take money that must be paid back

Tags

CCSS.RI.1.4

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CCSS.RI.3.4

CCSS.RI.4.4

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What is the purpose of a loan?

• To never return the borrowed money

• To buy snacks

• To save money

• To purchase something big, like a house

What is the main difference between a savings account and a checking account?

• Savings accounts earn interest

• Checking accounts earn interest

• There is no difference

• Savings accounts can be used to pay bills

What is a credit card?

• A card that earns interest

• A card that saves money

• A card for borrowing money

• A gift card

Tags

CCSS.7.RP.A.3

What can you use a debit card for?

• Saving money

• Earning interest

• Paying with money you already have

• Borrowing money from a bank

Tags

CCSS.2.MD.C.8