Financial Literacy Quiz for Young Learners

What is a budget?

• A list of your friends

• A plan for how to spend money

• A type of savings account

• A game about money

Why is saving money important?

• It allows you to buy things in the future

• It's only for adults

• You can only save money if you have a lot

• It's not important

What is investing?

• Spending all your money on toys

• Putting money in a piggy bank

• Using money to make more money

• Borrowing money from a friend

What does it mean to have debt?

• You have saved a lot of money

• You owe money to someone or a company

• You have a lot of money in your wallet

• You found money on the street

What is the difference between income and expenses?

• There is no difference

• Income is money you earn, and expenses are money you spend

• Expenses are money you earn, and income is money you spend

• Income is for adults, and expenses are for kids

How can you achieve a financial goal?

• By spending all your money

• By saving and planning

• By wishing for more money

• By borrowing money from friends

What should you do if you receive money as a gift?

• Spend it all immediately

• Save some and plan how to spend the rest

• Give it all away

• Hide it and forget about it

Why is it important to track your expenses?

• To make sure you don't spend more than you have

• It's not important

• So you can brag to friends

• To make your parents happy

What is a good habit to start saving money?

• Buying everything you want

• Waiting for a sale to buy something

• Putting a little money aside regularly

• Only saving money on your birthday

What can you do to avoid debt?

• Spend more money than you earn

• Use all your savings to buy expensive things

• Only use money that you have, instead of borrowing

• Borrow money from many different people