💰 Part 1: Understanding Financial Literacy

1. What is financial literacy?

The ability to count money quickly

The knowledge and skills to make informed decisions about money

Having lots of money in the bank

Working in a bank or finance company

2. Which of these are important areas of financial literacy? (Select all that apply)

Budgeting

Saving money

Understanding debt

Making wise spending choices

Playing the lottery

3. Sarah receives $50 pocket money each week. She spends $45 every week on snacks and entertainment. What financial habit should Sarah develop?

Ask for more pocket money

Create a budget and start saving some money

Spend all her money faster

Borrow money from friends

4. Why is financial literacy important for teenagers?

It helps develop good money habits early

It's only useful when you're an adult

It guarantees you'll become wealthy

It's not important until you get a job

📝 Part 2: Real-Life Scenarios

5. Compare these two people:

Person A: Creates a weekly budget, saves 20% of income, researches before big purchases

Person B: Spends money without planning, borrows frequently, buys things impulsively

Explain how their different approaches to money might affect their future:

6. List three benefits of having good financial literacy skills:

1. _________________________________

2. _________________________________

3. _________________________________

7. Think about your own money management. What is one financial skill or habit you would like to develop? Explain why.

🎯 Part 3: Planning Ahead

8. You want to buy a new phone that costs $800. You currently save $25 per week. How could financial literacy help you achieve this goal?

9. Match each financial term with its definition by drawing lines:

Budget

Debt

Interest

Savings

Money you owe to others

A plan for spending and saving money

Money set aside for future use

Extra money charged when borrowing

10. Complete this sentence: "Financial literacy is important because it helps people _________________ and leads to _________________."

Financial Literacy Foundations

Financial Literacy Foundations

💰 Part 1: Understanding Financial Literacy

📝 Part 2: Real-Life Scenarios

🎯 Part 3: Planning Ahead

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