Personal Financial Literacy

Match the terms in the left column with the terms in the right column that have the opposite meaning.

Which of these is a benefit of planned spending decisions?

Which of these is NOT a reason to save money?

Vicki often makes unplanned spending decisions. Which of these could be a benefit of Vicki's unplanned spending?

Tanner borrowed $2,000 from a bank to pay for a boat. After 24 monthly payments, Tanner repaid the bank a total of $2,500. Which is the most likely reason Tanner paid back more than what he borrowed?

The Morris family asked for a loan from a bank so that they could buy a home. Why did the Morris family need credit from the bank?

After Latanya completes high school, she may choose to attend a 4-year college or university. If she attends a college or university, she will increase her knowledge and skills. With more knowledge and skills, Latanya may have a better chance to get a job that -

During the winter months, Mr. Delgado has to pay $5 for a quart of strawberries. During the summer months, he has to pay $1 for a quart of strawberries. Which best explains why people pay less for a quart of strawberries in summer than in winter?

Ms. Jiang borrowed $2,654 from a bank. The bank expects Ms. Jiang to-

From the time he was 6 years old, Cedro has been saving $4 each week in his savings account at a bank. He has planned to use the money to help him pay for college in the future. Cedro is now 9 years old and has $428 in his savings account. Cedro should probably -

Ms. Brown owns a business that builds complex computer systems for NASA. Her business is growing and she needs to hire a new employee to help her design a new computer system. She will likely hire a person that has a degree from a -

In the year 1835, a freeze destroyed almost all of the orange trees in the state of Florida. Because oranges became scarce, the prices of oranges and orange juice in the state of Florida likely -

Ms. Taylor has spent the last 3 days in a hospital recovering from an accident. When she is released this afternoon, she will owe the hospital $900 for medical bills. Ms. Taylor only has $400. What will Ms. Taylor likely have to do?

William earns money each month from mowing his neighbor's yard. Each time William is paid, he saves $12 in a bank. He spends the rest of the money on entertainment and clothes. The money William saves in the bank -

For a homework assignment, Solymar had to list 5 of her goals. Look at the list below.

1. Get excellent grades in high school

2. Get Taylor Swift's autograph

3. Complete college

4. Get silky smooth hair

5. Take naps every afternoon

If Solymar accomplishes the 5 goals, which two goals will help her the most to get a job as an adult?

At the start of the year, Seth began making and selling bracelets made out of string. He sold them to other students for $1 each. A few days later, other students began making and selling the same bracelets. They sold their bracelets for 75¢ each. Within a month, thirty more students began making and selling bracelets. They sold theirs for 50¢ each. If Seth continues to sell bracelets, he will probably have to sell each one for -

People sometimes use credit when

Abigail's class went on a study trip to a bank. The manager of the bank told the students about the benefits of saving money. The manager probably did NOT say -

When a bank loans money to a person, the bank expects that person-

Malcolm will complete high school ten years from now. He can look for a job right after high school, or he can continue his education after high school in a college or technical school. If Malcolm decides to go to a college or technical school, he has a better chance of getting a job -

Yi-Min earns $18 each time she makes and sells a cake. Each time Yi-Min is paid, she saves half of the money in a savings account at a local bank. She spends the other half of the money on books, magazines, and theater tickets. Yi-Min could best use the money she saves in the bank to-

Mr. Simpkins owns an engineering company that designs and builds bridges. He needs to hire a new employee that has strong math, science, and computer skills. Which statement is true?

During the spring. Beverly has to pay $3 for a pound of apples. During the autumn, she pays less than $1 for a pound of apples. Why does Beverly have to pay more for apples in the spring than autumn?

James's grandfather pays him $15 each week for completing several chores around the farm. When James gets his money each week, he should probably -

What is interest?

What is savings?