5/9 Personal Financial Literacy

_____________________ is the term for the amount of money you have coming in.

How do you create value for yourself in the job market? (choose all that apply)

• Working harder than others

• Texting while on the job

• First one there

• Last to leave

What percentage of your income should ideally be allocated to savings according to the 50/30/20 rule?

• 20%

• 10%

• 30%

• 50%

According to the video, what is a crucial skill for financial literacy?

• Credit card collection

• Luxury spending

• Budget creation

• Stock trading

What is the primary benefit of investing in a diversified portfolio?

• High volatility

• Reduced investment risk

• Fixed returns

• Guaranteed profits

What does compound interest apply to in savings?

• The accumulated interest from prior periods

• The annual tax return

• The initial principal only

• Business investments only

What is considered a good use of credit?

• Vacation expenses

• Buying a home

• Dining out

• Fashion shopping