Responsible Money Choices Income and Careers Making Plans with Money Credit and Borrowing Insurance and Safety Savings and Investing
Why is it important to spend money on things you need before spending money on things you want? a.Because buying things you want is more fun b.Because you can live without wants, but you can’t live without needs c.Because only adults can spend money on things they want
b. Because you can live without wants, but you can’t live without needs
True or False. People can be responsible with their money by spending all their money at one time.
False
Which of the following is an example of a need for most people? a. Nail polish b. Nutritious food c. A basketball
b. Nutritious food
Where is a good place to go for information about money? a. mall b. bank c. restaurant
b. bank
Why is it helpful to hear about adults’ experiences and advice about money? a. They can help you decide how to spend and save your own money b. You might get ideas of new things to buy c. They can help you work on your math skills
a. They can help you decide how to spend and save your own money
People who are paid by the hour earn____ A. Salaries B. Overtime C. Wages
C. Wages
What kind of tax do people pay on things they own, like a house or a boat? a. Property tax b. Sales tax c. Income tax
a. Property tax
You should pursue a career based on _________________. A. your interests and talents B. whatever makes you the most money C. whatever comes easiest to you
A. your interests and talents
Other than a wage or salary, what is another example of income? A. Candy B. Money gifts C. Credit cards
B. Money Gifts
Which of the following is an entrepreneur? A. An owner of a plumbing business B. A waitress C. A flight attendant
A. An owner of a plumbing business
B How do you make a plan for spending and saving? a. Write down a plan for spending more money than you have b. Write down how much you make each week and how much you need to spend c. Write down a list of things you want but not how much money you have to spend D
b. Write down how much you make each week and how much you need to spend
Paying with ____takes cash out of your checking account. a. Credit card b. Debit cards c. Cash
b. Debit cards
What’s the best way to know if you are getting a good deal on what you're buying? a. Find out if there is a return policy b. Compare the price for what you want to buy at two or more stores c. Find out if all your friends own the item too
b. Compare the price for what you want to buy at two or more stores
Which is an example of a household asset, or something a person owns that has value? A. Jewelry B. Clothes C. A toaster
A. Jewelry
Which is an example of a charitable organization? A. A clothing store B. A police station C. A food bank
C. A food bank
How is buying with credit different than paying with cash? A. With credit, you borrow money to make the purchase, and repay the money borrowed later b. With credit, you can pay for things from your checking account c. There is no difference between buying with credit or paying with cash
A. With credit, you borrow money to make the purchase, and repay the money borrowed later
What is credit? A. A form of borrowing b. An endless supply of money c. A household asset
A. A form of borrowing
An adult might use credit to pay for: a. A car b. A house c. A dishwasher d. All of the above
d. All of the above
Why do banks lend money? A. Because it's a kind thing to do b. Because banks make money from the interest the borrower pays to use the money c. Because banks have endless amounts of money
b. Because banks make money from the interest the borrower pays to use the money
If you damage something you've borrowed from a friend, how could you regain your friend’s trust? a. You could buy your friend a replacement item b. You could stop talking to your friend c. You could pretend like it was damaged when it was given to you
a. You could buy your friend a replacement item ²
What are some ways that people can protect their cars from being damaged? a. Keep it in a garage b. Drive safely c. Wash it regularly d. All of the above
People use _______to help them pay their medical bills a. Safety insurance b. Health insurance c. Property insurance
b. Health insurance
What is an example of a “safe risk”? a.Ordering a new flavor of ice cream b.Keeping a candle lit in your room while you’re at school and no one is around your c.Not wearing a helmet when you ride a bike
a. Ordering a new flavor of ice cream
Which of these is an example of a financial risk? a. Not wearing a seatbelt b. Loaning your friend money for lunch c. Leaving the windows open in your house while you’re on vacation
b. Loaning your friend money for lunch
Which activity is an example of a way that people can reduce their personal risk? A. Wearing sunscreen while at the beach b. Not spending too much time staring at the computer screen c. Looking both ways before crossing the street d. All of the above
d. All of the above
The best way to make the most out of your money is to create a _________. a. Work chart b. Loan c. Budget
c. budget
True or False: An advantage to keeping your money in a savings account is that you might earn interest on your savings a. True b. False A.How many days do you spend in the pool? B.How much time do you spend shopping? C.What is your favorite summer activity? D.Do you think summer vacation is long enough?
a. true
A _____ is a way to invest your money in a few investment types at once. a.Bond b.Mutual Fund c. Stocks
b. Mutual fund
When selecting a savings account, what should you look for? a.A high interest rate b.A low interest rate c. An account that requires a minimum balance
a. A high interest rate
Which of the following is an example of an investment that can build your wealth? A. Stocks b. Checking account c. Taking out a loan
a. Stocks