Which is the main goal of becoming financially literate?(1 point)
Responses
becoming financially stable
becoming financially stable
becoming famous
becoming famous
becoming rich by investing in stocks
becoming rich by investing in stocks
becoming a member of the wealthy elite
becoming financially stable
What is the second step in the path to financial literacy?(1 point)
Responses
tracking your income and expenses
tracking your income and expenses
learning the different representations of money
learning the different representations of money
developing a diverse investment portfolio
developing a diverse investment portfolio
creating a trust for your kids
tracking your income and expenses
Which expenses show a spending want? Select the two correct answers.(1 point)
Responses
a sundae
a sundae
brakes for a car
brakes for a car
movie tickets
movie tickets
transportation to school
transportation to school
a textbook for your school
a sundae
movie tickets
Which of the options shows a long-term financial goal?(1 point)
Responses
paying monthly rent
paying monthly rent
buying a train ticket for spring break
buying a train ticket for spring break
paying for tuition to learn a new skill
paying for tuition to learn a new skill
replacing brakes to make the car safer
paying for tuition to learn a new skill
What is the difference between gross income and net income? Select the best answer.(1 point)
Responses
Gross income is the total of annual salary minus federal income tax.
Gross income is the total of annual salary minus federal income tax.
All wages and other earnings minus mandatory deductions
All wages and other earnings minus mandatory deductions
Net income is wages, salaries and other earnings minus all tax and deductions
Net income is wages, salaries and other earnings minus all tax and deductions
Wages minus voluntary deductions