FINANCIAL LITERACY

Question 1

the ability to understand how money works: how someone makes, manages and invests it, and also expends it (especially when one donates to charity) to help others.

Answer 1

Financial Literacy

Question 2

It can provide basic tools for budgeting and saving so that expenses and debt can be kept controlled.

Answer 2

For young adults

Question 3

It can help older workers ensure that they have enough savings for a comfortable retirement by providing them with the information and skills to make wise investment choices with their individual pension and savings plans.

Answer 3

For Families

Question 4

make the most of what they are able to save and help them avoid the high cost charged for financial transactions by non-financial institutions.

Answer 4

For low-income people

Question 5

They seek financial security by living below their means and saving money. They rarely buy luxurious items; they save money instead

Answer 5

Frugal

Question 6

Some people use to express their social status. They like to purchase and show off their branded items.

Answer 6

Status

Question 7

They are more likely to spend than to save. They often live beyond their means and spend more than they earn.

Answer 7

Pleasure

Question 8

Some place very little importance on having money and would rather grow their own food and craft their own clothes.

Answer 8

Indifference

Question 9

Use money to express power or control over others.

Answer 9

Powerful

Question 10

People who spend money for self-worth value how much they accumulate and tend to judge others based on the amount of money they have.

Answer 10

Self-worth