• Standardized MS 8 – Financial Literacy

What is a budget?

• A way to track your expenses.

  A set of goals you want to make with your money so you know where it's being spent.

• Something adults only have to worry about

What is financial literacy?

• Understanding how to make, save, and manage money

• Understanding how to avoid taxes

• Knowing how to spend money quickly

• Learning how to borrow money

What is the first step in managing your money according to Andrew?

• Borrowing money from friends

• Opening a credit card

• Starting with a budget

• Spending all your money

What is a key difference between a checking account and a savings account?

• Savings accounts are only for adults

• Checking accounts let you use a debit card and write checks

• Checking accounts are for long-term savings

At what age can you open a credit card without a cosigner?

• 16 years old

• 21 years old

• 25 years old

• 18 years old

What is one way to prevent fraud in online banking?

• Never check your account

• Change your password frequently

• Share your password with friends

• Use the same password for everything