In a few words, describe how financial literacy can help you achieve your goals?
"What do I need to know to be financially healthy?
How do I create a budget?
What are my options for saving money and investing?
How do I follow through on a financial goal?"
Understand the basics of budgeting and managing money. Make wise decisions on spending, saving, and investing. Gain confidence in making financial decisions.
The Benefits of Financial Literacy
Budgeting: A process of allocating money to various needs and wants with the goal of staying within a certain limit. Credit: The ability to borrow money or to receive goods or services in return for a promise to pay later. Savings: Money put aside to be used in the future for a particular purpose, such as retirement or a large purchase.
Financial literacy is not currently taught in most schools. It's still important to learn the basics though, as it can help you make better financial decisions in the future. Being financially literate can actually help you reduce stress. Having a handle on your finances can help you take control of your future and make better decisions. Financial literacy can also help you with career planning. It can help you figure out what jobs you should pursue and what investments you should make to help you reach your goals.
Did you know?
Work together in pairs: What are some tips for creating a budget and sticking to it to help achieve financial goals?
Work together in pairs: What are the three most important things you have learned about personal finance from this lesson?
Brain break: Create a surrealist painting that expresses your innermost thoughts and emotions. Give the painting a title that summarizes its message.
What is the definition of financial literacy?
- The ability to read and understand financial statements
- The ability to manage money wisely
- The ability to speak in public about financial services
- The ability to predict future stock prices
Which of the following is not a way to save money?
- Spending on luxury items
- Using a budgeting app
- Paying off credit card debt
- Investing in stocks
What is the most effective way to build wealth over time?
- Making risky investments
- Saving and investing regularly
- Taking out loans
What is the best way to protect yourself from identity theft?
- Sharing your personal information online
- Checking your credit report regularly
- Ignoring suspicious emails and phone calls
- Storing sensitive information in plain sight
Which of the following is a benefit of having good credit?
- Lower interest rates on loans
- Access to exclusive products and services
- Easier access to jobs
- Higher taxes