Financial Literacy HW Parts 1, 2 and 3

    Part 1

    Decide if each of the following statements is true or false.

    1. Only income and expenses matter when you’re making a budget.
    TrueFalse

    2. To have enough money for an emergency, you must save at least 3 to 6 months’ worth of living expenses.
    TrueFalse

    3. If you make and stick to a monthly budget, you’ll be able to pay your bills on time.
    TrueFalse

    4. If you can’t pay all of your bills and debt collectors are calling, just pay the one who calls the most.
    TrueFalse

    5. The only way to receive employment income is a paycheck.
    TrueFalse

    6. Credit is when you owe someone money.
    TrueFalse

    7. Your total monthly debt payments may affect your ability to borrow more money.
    TrueFalse

    8. A poor credit history can keep you from getting an apartment, and in some states, insurance or even a job.
    TrueFalse

    9. The only cost of having a checking account is the monthly service fee.
    TrueFalse

    10. As a consumer, you have almost no rights when it comes to financial products.
    TrueFalse

    Part 2

    Select an option to show how you feel today about each statement.

    1. I have enough money set aside for emergencies and goals.
    AgreeDisagreeNot Sure/Doesn't Apply

    2. I am not worried about how much money I owe.
    AgreeDisagreeNot Sure/Doesn't Apply

    3. I am confident about how to make sure the information on my credit reports is correct.
    AgreeDisagreeNot Sure/Doesn't Apply

    4. I don’t worry about being able to pay my bills and expenses.
    AgreeDisagreeNot Sure/Doesn't Apply

    5. I understand how credit works.
    AgreeDisagreeNot Sure/Doesn't Apply

    6. I feel confident about helping people begin to manage financial challenges.
    AgreeDisagreeNot Sure/Doesn't Apply

    7. I know where to get help if I have an issue with a financial product or service.
    AgreeDisagreeNot Sure/Doesn't Apply

    8. I know where people in my community can get financial
    counseling and free tax filing assistance.
    AgreeDisagreeNot Sure/Doesn't Apply

    Part 3

    Select an option to show your level of experience with the concept described in each statement.

    1. I have a savings or checking account at a bank or credit union, and I use it regularly.
    YesNoI Don't Know

    2. I have applied for, received, and used a credit card.
    YesNoI Don't Know

    3. I have used a loan to help me purchase a car or a home.
    YesNoI Don't Know

    4. I have taken out a payday loan or an auto title loan.
    YesNoI Don't Know

    5. I have requested my own credit report and reviewed it.
    YesNoI Don't Know

    6. I make and stick to a budget.
    YesNoI Don't Know

    7. I have used a check cashing business.
    YesNoI Don't Know

    8. I have been contacted by debt collectors.
    YesNoI Don't Know

    9. I understand my rights and know what to do if I believe a financial services provider has tried to take advantage of me.
    YesNoI Don't Know

    10. I receive income via a method other than a paycheck (payroll card, direct deposit, or cash, for example).
    YesNoI Don't Know