Financial Literacy

What is a fixed expense

• An expense that goes towards fixing items at home

• An expense that an change over time

• An expense that stays the same every month

What is a flexible expense?

• An expense that stays the same every month

• An expense where the amount due can change over time

• An expense that covers multiple charges

True or False: Rent is a fixed expense

• True

• False

True or False: Electricity is a fixed expense

• True

• False

Find the TWO pros for having a credit card:

• Helps build your credit score

• Overspending

• Debt Accumulation

• Emergency Fund

Find the TWO cons for having a credit card

• Credit Score Damage

• Interest Rates

• Rewards Programs

• Convience

True or False: If you do not pay off your credit card balance, interest can be added to your credit card bill

• True

• False

What is an alternative to buying brand name clothes to save money?

• Buy all clothing online only

• Buy clothes at brand name clothing stores

• Buy store brand clothes

What is a "want" when buying something

• A needed purchase

• An optional purchase

• A mandatory purchase

What is a "need" purchse

• A mandatory purchse

• An optional purchase

• A fun purchase