What is Saving
What do you call it when you keep money you don't spend right away?
a) Spending
b) Sharing
c) Saving
d) Borrowing
c) Saving
Saving can help you buy something special you really want in the future, like:
a) A bill
b) A goal
c) A debt
d) A tax return
b) A goal
Which of these is an example of a need?
a) A new video game
b) The latest phone
c) Food
d) A fancy toy
c) Food
What is a plan for how you will spend and save your money called?
a) A wish list
b) A shopping list
c) A budget
d) A recipe
c) A budget
What is it called when you compare prices at different stores before buying?
a) Impulse buying
b) Brand loyalty
c) Shopping around
d) Window shopping
c) Shopping around
Putting money aside regularly can help you do this over time.
a) Reach a financial goal
b) Spend all your money quickly
c) Forget about your money
d) Lose your money
a) Reach a financial goal
Savings can help with unexpected events like:
a) A planned party
b) An emergency
c) A regular chore
d) A scheduled payment
b) An emergency
Which of these is usually considered a want?
a) A warm coat in winter
b) Healthy food for meals
c) A subscription to a streaming service
d) A safe place to sleep
c) A subscription to a streaming service
The money you receive regularly is called:
a) Output
b) Outcome
c) Income
d) Expense
c) Income
Waiting a little while before buying something you want is called:
a) Instant gratification
b) Spending spree
c) Delaying gratification
d) Compulsive buying
c) Delaying gratification
Where is a safe place to keep your savings?
a) Under your bed
b) In your pocket
c) In a piggy bank or bank account
d) Anywhere you can find
c) In a piggy bank or bank account
Saving now can help you have more of these when you get older.
a) More homework
b) Fewer responsibilities
c) More choices and opportunities
d) More strict rules
c) More choices and opportunities
Before buying something, ask yourself: Is this a need or a...?
a) Problem
b) Question
c) Want
d) Secret
c) Want
Keeping track of where your money goes is called:
a) Ignoring finances
b) Wishing for more money
c) Tracking expenses
d) Hiding your money
c) Tracking expenses
Buying something when it's on sale helps you:
a) Waste money
b) Buy more than you need
c) Save money
d) Pay full price
c) Save money
When a bank pays you a little extra money on your savings over time, it's called:
a) A fee
b) A tax
c) Interest
d) A loan
c) Interest
Saving gives you this instead of always asking someone else to buy things for you.
a) More chores
b) More allowance
c) Independence
d) More screen time
c) Independence
Using your savings to buy a new pair of shoes because your old ones have holes is spending on a:
a) Want
b) Luxury
c) Need
d) Treat
c) Need
In a good budget, your income should be greater than or equal to your:
a) Savings
b) Profits
c) Expenses
d) Investments
c) Expenses
Instead of buying something brand new, you can sometimes save money by buying something:
a) More expensive
b) That you don't need
c) Used or second-hand
d) From a different country
c) Used or second-hand
Saving a little bit from each allowance is an example of:
a) A sudden wealth
b) A risky investment
c) A good financial habit
d) A guaranteed profit
c) A good financial habit
Saving money teaches you this important skill.
a) Counting to ten
b) Running fast
c) Responsibility
d) Drawing pictures
c) Responsibility
Understanding the difference between needs and wants helps you make smarter decisions about
a) What your friends buy
b) What's on TV
c) How you spend your money
d) What you eat for snacks
c) How you spend your money
A good budget helps you make sure you have enough money for your needs and some of your:
a) Bills only
b) Debts only
c) Wants and savings goals
d) Taxes only
c) Wants and savings goals
Thinking carefully if something is worth the money before you buy it is using:
a) Your feelings
b) Peer pressure
c) Making informed decisions
d) A lucky guess
c) Making informed decisions