1. What does the idiom "A penny saved is a penny earned" mean?

• A) Saving money is more valuable than earning money

• B) Earning money is more important than saving money

• C) Saving money is as valuable as earning money

• D) Saving money is not important

2. How does the idiom encourage people to be careful with their spending?

• A) By teaching them to save money instead of earning money

• B) By emphasizing the importance of being frugal

• C) By discouraging them from saving money

• D) By encouraging them to waste money on unnecessary things

3. What does Lily want to save up for?

• A) A new car

• B) A vacation

• C) An emergency fund

• D) A shopping spree

4. Why does David want to put his money in a piggy bank?

• A) To earn interest on his savings

• B) To see how much he has saved

• C) To spend it all at once

• D) To give it to charity

5. What does their grandmother suggest as a better option for saving money?

• A) Putting it in a piggy bank

• B) Spending it on unnecessary things

• C) Putting it in a savings account at the bank

• D) Giving it to their parents

6. Why does their grandmother think putting money in a savings account is better?

• A) It allows the money to earn interest and grow faster

• B) It is more fun to watch the money grow in a piggy bank

• C) It helps them spend their money on unnecessary things

• D) It is more convenient than having an emergency fund

7. What is the main lesson from the story?

• A) Saving money is not important

• B) It is better to spend money than save it

• C) Saving money in a piggy bank is the best option

• D) Putting money in a savings account can help reach financial goals faster

8. How does the idiom relate to Lily’s goal of saving for an emergency fund?

• A) It encourages her to spend the money instead of saving it

• B) It emphasizes the importance of having money set aside for unexpected expenses

• C) It suggests that saving money is not as valuable as earning money

• D) It discourages her from saving money in a piggy bank

9. Why do Lily and David realize that putting money in a savings account is a better option?

• A) They want to earn interest on their savings

• B) They want to impress their grandmother

• C) They want to see their money grow faster

• D) They want to waste their money on unnecessary things

10. What is the benefit of saving money according to the idiom?

• A) It allows you to earn more money

• B) It helps you reach your financial goals faster

• C) It encourages you to spend your money wisely

• D) It teaches you the importance of being frugal