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Spending and Saving Money Quiz

Authored by Christy Blackburn

Life Skills

8th Grade

Used 16+ times

Spending and Saving Money Quiz
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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is it important to have a plan for spending and saving money?

To buy everything you want right now

To manage money wisely, plan for needs, and save for the future

To ignore financial responsibilities

To let someone else decide how to spend your money

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Real World Scenario: Sarah wants to buy a new bike. She has $50 and her mom gave her $20 as a gift. How can Sarah use her plan for spending and saving to decide if she can buy the bike?

Spend all the money now

Wait for more money as a gift

Compare the cost of the bike to her savings

Ask her friend to decide

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an example of using consumer skills when spending and saving money?

Buying things without thinking

Thinking carefully about what to buy and comparing prices

Ignoring money and spending freely

Letting others decide what to buy for you

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Career Planning and Personal Income

Why is it important to explore job and career options?

To have fewer choices in the future

To increase personal income potential

To avoid thinking about the future

To let luck decide your job

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Real World Scenario: Emma is interested in becoming a veterinarian or a chef. How can exploring job and career options help Emma make a decision?

By giving her details of each job to see if it matches with her interests

By increasing her chances of success

By avoiding the decision-making process

By letting someone else choose for her

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does analyzing net income mean?

Only looking at how much you earn

Considering taxes and deductions from your income

Ignoring any extra money you might get

Never planning for the future

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Financial Decision Making

What is the first step in making a financial decision?

Ignore all the choices

Think carefully about different options

Make decisions based on your feelings

Ask someone else to decide for you

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