Grade 8 Personal Financial Literacy Worksheet
This worksheet covers key concepts in personal financial literacy for 8th graders, including budgeting, saving, investing, and understanding credit.
Includes
Standards
Topics
Personal Financial Literacy
Name:
Date:
Score:
Read each question carefully and answer to the best of your ability.
1. Which of the following is the best definition of a budget?
A plan for how to spend and save money.
A record of all the money you have.
Money you owe to someone else.
Money you earn from a job.
2. What is the primary purpose of an emergency fund?
To buy luxury items.
To cover unexpected expenses.
To invest in the stock market.
To pay for a vacation.
3. The money you earn from working is called your .
4. Saving a portion of your income for future goals is known as .
5. A good credit score can help you get lower interest rates on and loans.
6. It is important to track your spending to manage your money effectively.
True
False
7. Investing your money always guarantees a high return.
True
False
8. List two benefits of creating and sticking to a budget.
9. Explain the difference between a 'need' and a 'want' when it comes to spending.
Use the words below to complete the sentences.
10. The cost of borrowing money is called .
11. Money that you owe to another person or institution is known as .