EverFi Questions and Answers Already
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Decision making ✔✔Considering different information to make a choice
Privacy ✔✔Keeping important information to yourself or between yourself and close family
members
Finan
...
EverFi Questions and Answers Already
Passed
Decision making ✔✔Considering different information to make a choice
Privacy ✔✔Keeping important information to yourself or between yourself and close family
members
Financial literacy ✔✔The knowledge and skills to manage money
Financial institution ✔✔a place, like a bank, that helps its members manage their money
Financial advisor ✔✔a person who is a professional at handling money and can give you
information and advice about saving and investing
Short-term goal ✔✔a goal that can be achieved in a short amount of time. It can be a few days,
weeks, or months
Long-term goal ✔✔a goal that can be achieved in a longer amount of time. It can be months,
years or even an entire lifetime
Want ✔✔something you'd like to have but will be okay without
Need ✔✔something you truly can't live without
Opportunity cost ✔✔the cost you pay when you give up something to get something else
Inflation ✔✔the price of goods and services rises over time
Income ✔✔money earned from working and other means
Salary ✔✔payment for work, expressed as a yearly sum and paid in portions every week, two
weeks or month including sick time and vacation time
Wage ✔✔payment for work, usually calculated on an hourly, daily, or piecework basis and paid
on schedule-usually every week, two weeks or month
Taxes ✔✔fees placed on income, purchases, or property to support government programs
Sales tax ✔✔a fee added to the sticker price of an item that is paid to the state or city
Income tax ✔✔annual tax placed on the money employees make at jobs and collected by the
federal government, most states and some local governments
Job ✔✔work you do for money
Career ✔✔something you build by going to school and working jobs related to the career you
want
Entrepreneur ✔✔a person who starts his or her own business
Assets ✔✔what a person owns of value, such as jewelry, savings, art, a home, and a car
Spend ✔✔to use money to buy stuff
Impulse buying ✔✔buying stuff without thinking about whether or not you need it
Comparison shopping ✔✔finding out whether or not what you're about to buy can be found for a
better price or in better shape at a different store
Peer pressure ✔✔doing stuff just because your friends are doing it, or because your friends told
you to, because you want your friends to like you and think you are cool
Bank ✔✔a place where people put their money for safekeeping, and for east of use
Credit union ✔✔just like a bank, only its members own it
Brokerage firm ✔✔helps people invest their money
Payment method ✔✔what you use to pay for something, like cash or a check
Charity ✔✔giving resources or volunteering time to help those in need
Expense ✔✔the cost of goods and services
Budget ✔✔a spending plan people make in order to make sure there is enough income to cover
all expenses
Credit ✔✔a loan that a person uses to pay for things, but they must pay back
Interest ✔✔the extra fee used for borrowing money, or the cost of borrowing money
Reliability ✔✔being trustworthy and responsible
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