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Financial Literacy

Total questions: 15

Worksheet time: 5mins

Name
Class
Date
1.

A budget gives you________ over your money, that you never knew you had.

a)

Money

b)

Appreciation

c)

Understanding

d)

Control

2.

______ of Americans live paycheck to paycheck.

a)

100%

b)

80%

c)

60%

d)

40%

3.

_________ on credit is a fee you pay on top of the money you already owe.

a)

Interest

b)

Mortgage

c)

Saving

d)

Equity

4.

Debt is owing money to anyone for any reason.

a)

True

b)

False

5.

Using a credit card means you _______ to buy stuff.

a)

Barter Clothing

b)

Use Debt

c)

Use Cash

d)

Never Decide

6.

If you pay with _______, you won’t have to worry about paying anything else later.

a)

Cash

b)

Credit

c)

Debt

d)

Credit Card

7.

This is a person or organization that uses a product or service

a)

Hungry Person

b)

Loan Shark

c)

Consumer

d)

Asset

8.

The knowledge and skill base for people to be informed consumers and manage their money effectively

a)

Personal Finance

b)

Debt

c)

Financial Literacy

d)

Net Worth

9.

All of the financial decisions an individual or family must make about their money

a)

Give to Others

b)

5 Foundations

c)

Living the Dream

d)

Personal Finance

10.

The percentage of principal charged by the lender for the use of its money

a)

Default Rate

b)

Interest Rate

c)

Pay Rate

d)

Debt

11.

The total wealth of a person/family taking into account all of their assets and liabilities

a)

Total Value

b)

Net Worth

c)

Mega Assets

d)

Full Liabilities

12.

Anything that is owned by an individual or family, including money, investments, collectibles, autos, etc.

a)

Liability

b)

Bank Roll

c)

Asset

d)

Foundation #2

13.

Financial debts or obligations

a)

Liability

b)

Assets

c)

Bank

d)

Diabetes

14.

How you describe a person or family whose monthly income barely gets them through the month and they have no savings

a)

Living the Dream

b)

Living Paycheck to Paycheck

c)

Living Peanuts to Carrots

d)

#FitterLifestyle

15.

You can measure someone's net worth by how much money they make.

a)

True

b)

False