What does the "S" in SMART goals stand for?
A. Simple
B. Smart
C. Specific
D. Strategic
C. Specific
What kind of account earns interest?
A. Checking account
B. Debit account
C. Savings account
D. Credit account
C. Savings account
What is a trade-off?
A. Something you gain
B. Something you give up when choosing
C. A free reward
D. Something you win
B. Something you give up when choosing
Is clean water a need or want?
need
What is comparison shopping?A. Buying without thinking B. Checking prices and options before buying C. Asking your friend what they bought D. Only buying expensive brands
B. Checking prices and options before buying
Why is goal setting important?
A. It wastes time
B. It helps you stay focused
C. It guarantees success
D. It makes you rich
B. It helps you stay focused
What is it called when you take money out of a bank account?
A. Deposit
B. Withdrawal
C. Transfer
D. Swipe
B. Withdrawal
Why should you save money?
A. To throw it away later
B. So you can go shopping every day
C. To be ready for future needs
D. To avoid taxes
C. To be ready for future needs
Is a new video game a need or want?
Want
Why should you look for discounts or coupons?A. To spend more B. To waste money C. To save money D. To impress others
C. To save money
What does it mean for a goal to be "measurable"?
A. It has a dollar sign
B. It can be achieved instantly
C. You can track progress
D. It’s expensive
C. You can track progress
Which is a benefit of using a bank?
A. You lose your money
B. It costs a lot
C. Your money is secure
D. You get free gifts
C. Your money is secure
True or False: You should save money after buying fun things.
False
Why is it important to know the difference?
A. To avoid buying anything
B. To budget your money wisely
C. To buy more wants
D. To borrow more money
B. To budget your money wisely
What should you check before buying something?A. What your friends think B. The store's color C. Price and quality D. The weather
C. Price and quality
Which of the following is a short-term goal?
A. Buy a car in 10 years
B. Save $20 this month
C. Retire at 65
D. Graduate college
B. Save $20 this month
A debit card is used to:
A. Take out a loan
B. Spend borrowed money
C. Spend money directly from your bank
D. Save money
C. Spend money directly from your bank
Which of these helps decide whether to save or spend?
A. What your friends are buying
B. Creating a budget
C. Buying everything on sale
D. Guessing your balance
B. Creating a budget
Which of these is a “need”?A. Designer sneakers B. Cell phone C. Food D. Movie ticket
Food
How can advertising affect what you buy? A. Makes you want things you don’t need B. Helps you budget C. Saves you money D. Always tells the truth
A. Makes you want things you don’t need
What makes a SMART goal realistic?
A. It's something you want badly
B. It’s achievable based on time and resources
C. It’s a dream
D. It sounds impressive
B. It’s achievable based on time and resources
Which of these is NOT a difference between debit and credit cards?
A. Credit can build a credit score
B. Debit uses your own money
C. Credit cards are free money
D. Debit doesn't charge interest
C. Credit cards are free money
What is opportunity cost?
A. Money earned from work
B. The best choice
C. The value of what you gave up
D. A random decision
C. The value of what you gave up
Which is a want that could help mental health?A. Water B. New shoes C. Game night with friends D. Paying rent
C. Game night with friends
What is a smart shopping move? A. Buying the first thing you see B. Waiting for a sale C. Buying without checking price D. Copying your friends
B. Waiting for a sale