Unit 1: Financial Responsibility and Decision Making

List three benefits of being financially responsible.

1. having more opportunities, 2. earning more money in interest, 3. gaining independence.

TRUE OR FALSE: Financial literacy means knowing how to make financial decisions.

FALSE

TRUE OR FALSE: Written goals should be simple and short.

FALSE

In three or four sentences, describe what it means to be good stewards.

Good stewards accept that God owns everything. They are careful and responsible with God's resources, including money. Good stewards also help people by giving

When prioritizing goals, how should you order them?

In order of importance

Amy wants to invest money for two years. She doesn't know which investment is best for her. What should Amy do?

She should use the Bible for guidance and become more knowledgeable by talking with a financial adviser, reading books, or by taking a class.

TRUE OR FALSE: A financially responsible person reacts quickly to problems.

TRUE

TRUE OR FALSE: A misconception is a mistaken idea or thought.

TRUE

TRUE OR FALSE: An individual's irresponsibility may affect the world God has created.

TRUE

The first step in setting goals is ____________.

calculating your net worth

Becoming financially literate is important because it can ____________.

help you become a better steward of God's resources