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LET’S PRACTICE
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13. List 2 reasons why it is useful for the government to collect data on the income levels of Americans. _ ____________________________________________________________________ _ ____________________________________________________________________ _ ____________________________________________________________________ 14. Financial literacy ______________________________. a. has both personal and global aspects. b. is something only trained professionals develop. c. is pointless without a high income. d. is different depending on what job you have. 15. Roger has a high income, but net worth of just $5000. Regina has a moderate income, but net worth of $150,000. Neither have sources of income other than their jobs. What might account for the differences in wealth? _ ____________________________________________________________________ _ ____________________________________________________________________ _ ____________________________________________________________________ 16. Charles makes $35,000 per year as a transportation supervisor coordinating the deliveries of goods and maintenance of trucks for large trucking company in Iowa. His wife, Charlene, makes $41,000 as an agricultural inspector. They have a total of $105,000 in their retirement accounts. They own a small home valued at about $125,000. They have $5000 in a savings account, $1500 in credit card debt and a home loan of $60,000. What is their net worth? (Explain your answer.) _ ____________________________________________________________________ _ ____________________________________________________________________ _ ____________________________________________________________________ _ ____________________________________________________________________ 17. Which of the following choices is NOT an example of a wealth building strategy? a. applying for a job with higher pay b. moving to a less expensive apartment and investing the savings c. purchasing real estate d. playing the lottery PRODUCT PREVIEW
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THE 21st CENTURY STUDENT’S GUIDE TO FINANCIAL LITERACY
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