FINANCIAL LITERACY

Buying the newest cellphone is a need

• YES

• NO

Eating healthy food is a want

• TRUE

• FALSE

What is the difference between a want and a need?

• Needs are things adults buy, wants are for children

• Needs are things you save for, wants are things you buy right away

• Wants are more expensive than needs

• 
  Wants are things you can live without, needs are things you must have

What is the main reason to create a budget?

• To help you earn more money

• To help you get a loan

• To help you use credit cards

• To help you live within your means

What is a debt?

• Money you spend on wants

• Money you borrow that must be repaid

• Money you save in a bank

• Money you earn from work

What happens when you use a credit card?

• You are using money you already have

• You are putting money into your savings

• 
  You are making a budget

• You are borrowing money from a credit card company