Financial Literacy Quiz

What is the management of an individual's or family's money and financial decisions called?

• Savings

• Spending

• Personal Finance

• Investing

What term describes money set aside for future use or emergencies?

• Borrowing

• Savings

• Taxes

• Credit

What is the act of using money to buy goods or services?

• Investing

• Budgeting

• Spending

• Giving

What is the ability to borrow money or access goods or services with the understanding that you'll pay later?

• Investing

• Credit

• Budgeting

• Giving

What is taking money with the promise to repay it, often with interest, called?

• Borrowing

• Spending

• Saving

• Investing

Which of the following is an example of taxes?

• Sales tax added to purchases

• Donating to a local food bank

• Putting money into a savings account

• Borrowing money from a bank

Which of the following is an example of borrowing?

• Getting a loan from a bank to buy a car

• Donating money to a charity

• Planning a monthly budget

• Buying stocks in a company

What term describes a specific plan or aim for how you want to use or manage your money?

• Interest

• Economic Impact

• Financial Goal

• Debt

What term describes the system of production, distribution, and consumption of goods and services within a country or region?

• Economy

• Debt

• Financial Goal

• Interest

Which of the following is an example of an economic impact?

• Saving $500 for car repairs

• Increased local shopping leading to more jobs

• Paying an extra 5% on a loan

• Owing money on a credit card