International Baccalaureate (IB) Practice Exam

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Which of the following is not a factor in becoming money smart?

Learn the language of money
Have knowledge of basic math
Learn how to read your credit card statements
Manage your behavior with money

The correct answer is: Learn how to read your credit card statements

The ability to manage your behavior with money is essential in becoming money smart. This involves understanding how your financial habits and decision-making processes impact your overall financial well-being. Individuals who manage their behavior with money are more likely to make informed choices, avoid unnecessary debts, and develop healthy financial habits that contribute to long-term financial stability. In contrast, learning how to read credit card statements is indeed a crucial skill for financial literacy but does not encompass the broader scope of what it means to be money smart. This includes understanding fundamental concepts such as budgeting, saving, and investing, alongside grasping the language of money and basic math. While knowledge of basic math is important for handling finances, the aspect of managing behavior is more about the psychological factors that influence how individuals deal with money, making it a core component of financial intelligence.