Let's learn about Money Management!

What do you do when you are in an urgent need of money?

• Borrow from friends and never give them back

• Take some from your savings

• Beg your parents for money

. It is your Mother's Birthday and you wish to buy her a nice gift, what do you do?

• I will make her a nice handmade gift

• I will buy an expensive gift from her money

• I will use my savings and buy her a dress

• My mother dosen't like gift so I will not buy her one

You have saved money for months now and your piggy bank is full, what do you to?

• I will start my saving chart again

• I will buy expensive things and use all my money

• I will throw a party for my friends

• I will buy things which I am never going to use

4. I have been setting aside Rs.100 a month to buy a new bicycle . This idea is known as what?

• savings

• credit

• income

• debt

Which of the following is an example of income?

• Your paycheck

• interest on a savings account

• birthday money

• These are all examples on income

6. It is a good idea to build a budget based on your income.

• True

• False

The essentials you can't live without are called:

• Needs

• Wants

• Income

• Expense

What is the Magic Formula for saving money??

• Income - Expenses = Savings

• Income - Interest = Savings

• Income - Savings = Expenses

• Savings + Expenses = Income

When you set your financial goals, it must always be ............

10. Debt, even when managed properly, will always bring loss to the person and his/her family.

• True

• False