Why Financial Skills Matter for Teens

What is the main reason financial skills are important for teens?

• To help them make responsible financial choices

• To encourage them to spend more money

• To ensure they become wealthy

• To teach them how to avoid all financial risks

Which of the following is NOT mentioned as an essential financial skill for teens?

• Investing in stocks

• Saving money

• Budgeting

• Understanding credit

How does financial literacy benefit teens according to the passage?

• It helps them avoid debt and make informed spending decisions

• It guarantees financial success

• It allows them to spend freely without consequences

• It ensures they never have to borrow money

What can happen if teens do not learn financial skills?

• They may struggle with money problems as adults

• They will automatically become financially independent

• They will never face financial stress

• They will always have enough money

Why is budgeting considered an essential financial skill for teens?

• It helps them plan their spending and avoid running out of money

• It allows them to spend as much as they want

• It ensures they never have to save money

• It guarantees they will never need credit

Match the following

• Items that use up one's income

• Expenses

• The money a person gets from a job or for performing a service

• Savings

• Money that is set aside for later use

• Budget

• A plan for tracking a person's income and expenses.

• Income