What is financial literacy?
Understanding Financial Literacy

Passage
•
Business
•
6th - 8th Grade
•
Medium
Nordia Johnson-Stoner
Used 10+ times
FREE Resource
16 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
deciding that wants are more important than needs
Expenses you don’t have to pay
The ability to understand and manage money wisely
overspending and not saving
for the future
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the definition of a budget?
a) A plan for spending and saving money
b) A type of bank account
c) Money given by parents for free
d) A list of expenses only
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is planning a budget important?
a) To spend all your money quickly
b) To avoid overspending and save for the future
c) To have more wants than needs
d) To ignore income and expenses
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is income?
a) Money you spend
b) Money you save
c) Money you earn or receive
d) Money borrowed from a bank
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are fixed expenses?
a) Expenses that stay the same each month
b) Expenses that change each month
c) Expenses you don’t have to pay
d) One-time payments only
6.
FILL IN THE BLANK QUESTION
1 min • 1 pt
A ______ is a plan for spending and saving money.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a variable expense?
a) Rent
b) Car payment
c) Electricity bill
d) Mortgage
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