Why We Do It

Why We Do It

Financially Literate Teens Have a Leg Up on Adulthood!

Financially Literate Teens Have a Leg Up on Adulthood!

Cartoon drawings of Winston the pig at his first job, emptying a piggy bank, and buying his first home
Speech bubble that says, "Let's see how financially literate you think you are!"
Cartoon drawing of Winston the pig looking inquisitive

How Financially Literate Are You?

Level: Beginner

1 / 5

True or False: Each person has only one credit score.

2 / 5

Fill in the blank: You should keep your credit usage below ____% of your total credit available.

3 / 5

Which of the following directly impacts your credit score? (Check all that apply)

4 / 5

Fill in the blank: The money that you actually take home after taxes and deductions are subtracted from your paycheck is called _____ pay.

5 / 5

True or False: The monthly payment on a 15-year mortgage would be ______ a 30-year mortgage for the same house.

Your score is

The average score is 51%

0%

Being independent includes making big decisions, most of them financial. Unfortunately, the majority of young people do not receive adequate education to prepare them to make these decisions.

Consider the following:

Status of Personal Finance Education Across the Nation 2022

released by the Council of Economic Education “Survey of the States 2022”

0
Number of States Where a Stand Alone High School Course Is Required
0
Number of States Where Required Coursework Is Integrated Into Another Course
0
Number of States (+DC) Where No Financial Literacy Is Required To Be Taken
0
Number of States That Require A Financial Literacy Course To Be OFFERRED

How Financially Literate Are You?

Level: Intermediate

1 / 5

Which of the following is the minimum “Good” credit score?

2 / 5

If you have two credit cards, each with a $3,000 limit, to be a responsible credit user, what is the maximum you should charge per month?

3 / 5

Suppose you had $100 in a savings account and the interest rate was 3% per year. After 1 year, how much do you think you would have in the account if you left the money to grow?

4 / 5

Let’s say you set aside $1000 in a savings account with an interest rate of 2% per year. Currently, the rate of inflation is at 5% per year. What is your best course of action if you are saving for retirement?

5 / 5

Naomi owes $500 on a loan than has an interest rate of 8% compounded annually. If she doesn’t make any payments on the loan and the interest rate is fixed, how many years will it take for the amount that she owes to double?

Your score is

The average score is 30%

0%

Speech bubble that says, "So you passed the first quiz, but how about this one? It's a little trickier!"
Cartoon drawing of Maggie the dog wearing a white bandana with pink flowers on it

“About half of households age 55 and older have no retirement savings (such as in a 401(k) plan or an IRA).”

-Government Accountability Office