Financial Literacy for Students

What is a budget?

• It's a type of investment strategy.

• It's a document for tracking employee performance.

• It's a financial plan for managing income and expenses.

Why is saving money important?

• It's only for the wealthy.

• It's important for financial security and achieving future goals.

• It's unnecessary for anyone.

What is a need?

• It's a temporary desire for something.

• It's a basic requirement essential for survival or well-being.

• It's a luxury item that enhances comfort.

How do you make a budget?

• List income, categorise expenses, allocate funds, and track spending.

• Only budget for fixed costs

• Spend freely without tracking

Where can you keep your money safe?

• in a public park

• under the mattress

• bank account, safe deposit box, home safe

What is a bank account?

• It's is a physical location where money is stored.

• It's a type of loan from a bank.

• It's a financial account for managing money with a bank.

What does it mean to save money?

• To borrow money from others.

• To set aside a portion of income for future use instead of spending it.

• To spend all your income immediately.

How can you tell if something is a need?

• It's determined by personal preferences and trends.

• It's something essential for survival or well-being.

• It's a luxury item that enhances comfort.

What is an example of a want?

• A pair of shoes for work

• A basic necessity like food

• A new smartphone

Why should you check your bank account?

• To apply for a loan.

• To monitor your balance and track transactions.

• To close your account permanently.