GFL Strand 2, Standard 1: Influences on Financial Behavior

What is one benefit of financial planning?

• Less stress about money during hard times.

• Making risky investments without worry.

• Spending all your money without tracking it.

• Never having to save for emergencies.

What does financial planning help with in relationships?

• It increases financial arguments.

• It creates trust and reduces money stress.

• It forces both people to spend equally.

• It limits financial freedom in the relationship.

What is a good habit for financial stability?

• Spending as much money as possible.

• Minimizing debt and managing your budget well.

• Avoiding long-term savings plans.

• Only relying on credit cards for big purchases.

How can emotions affect financial decisions?

• They help people always make better choices.

• They lead to both smart and poor money choices.

• They have no impact on spending habits.

• They only matter when buying large items.

What is one way culture can influence financial decisions?

• It encourages people to follow their own financial habits.

• It shapes what people view as important to spend money on.

• It forces everyone to save money the same way.

• It prevents people from learning financial skills.

Why is minimizing debt important?

• It gives you fewer bills to manage.

• It makes it harder to save money for the future.

• It prevents you from owning anything valuable.

• It stops you from borrowing when needed.

What is a benefit of being self-reliant with your money?

• You depend more on family for financial support.

• You can control your financial future better.

• You avoid making any big decisions.

• You spend less time learning about finances.

How can social media affect your spending?

• It encourages people to save more consistently.

• It can influence you to buy things you don’t need.

• It prevents people from looking for discounts.

• It always provides the best deals for shoppers.

What is a common pro of charitable giving?

• It can provide tax benefits and help those in need.

• It reduces how much money you can save.

• It increases stress by limiting your budget.

• It is only good for religious donations.

Why is comparison shopping important?

• It ensures you spend all your money on one item.

• It helps you find better prices and deals.

• It makes the buying process much slower.

• It forces you to buy more items than planned.