Financial Literacy Quiz

What does “to budget” mean?

• To plan how to spend your money

• To borrow money that you must pay back later

• To stop working and live off savings

What are “household expenses”?

• Regular costs like rent, utilities, and groceries

• Money you save for retirement

• Unexpected costs

• Money you lend to others

What is “cash-back”?

• A reward that gives you a percentage of your spending back

• A loan from the bank

• A discount on future purchases

What does “to afford” mean?

• To have enough money to pay for something

• To save money for the future

• To invest in the stock market

What is “purchase protection”?

• A way to get your money back if something you bought is damaged

• Insurance for your car

• A savings account

• A type of investment

What does “get into debt” mean?

• To borrow money and owe it

• To save money

• To earn more than you spend

• To invest in property

What is “financial independence”?

• Being able to support yourself financially

• Relying on your parents for money

• Having a joint bank account

What is “an emergency fund”?

• Money set aside for unexpected situations

• Money for daily expenses

• A retirement plan

What does “retirement” mean?

• Stopping work and living off savings or pension

• Getting a promotion

• Starting a business

What does “manage money” mean?

• To handle your finances effectively

• To spend all your income

• To borrow from friends