Finance Fundamentals for Young Learners

What is budgeting?

• Spending all your money at once

• Saving all your money and not spending any

• Planning how to spend and save your money wisely

• Borrowing money from friends

Why is saving money important?

• So you can buy snacks

• To have money for emergencies

• To make your piggy bank heavy

• All of the above

What is investing?

• Putting your money under your mattress

• Spending all your money on toys

• Letting your money grow over time by buying things that could increase in value

• Giving all your money to a friend

What does it mean to have good credit?

• Having a lot of credit cards

• Being able to borrow money or buy things and pay for them later because you have a history of paying back on time

• Owning a big wallet

• Having all the video games

What is a bank?

• A place where you can buy toys

• A place where you can swim

• A place to safely keep your money

• A type of airplane

Why do we pay taxes?

• To buy candy

• Because it's a rule and it helps pay for things we all use like schools and roads

• To get more video games

• For fun

What is a savings account?

• A box under your bed

• A type of bank account that earns interest over time

• A place to store your toys

• A book where you write down your secrets

How can you earn money to save or invest?

• By finding it on the street

• By working jobs, like doing chores for allowance

• By wishing for it really hard

• By trading your old toys

What should you do before buying something expensive?

• Buy it immediately

• Ask a friend if you should buy it

• Save enough money for it and think carefully if you really need it

• Borrow money from your sibling

What is interest?

• A hobby or something you like to do

• Money that you pay to borrow money or earn for saving money

• A new video game

• A type of food