Saving and Budgeting Quiz

What is the best reason to save money?

• To buy something right now

• To have money for emergencies

• To lend to others

• To avoid going to school

Which is the safest place to keep your savings?

• Under your bed

• In a jar at home

• In a bank account

• In your wallet

What is an emergency fund?

• Money for fun activities

• Money for clothes

• Money saved for unexpected expenses

• Money saved for a vacation

How can setting a goal help you save?

• It helps you spend more

• It gives you something to work toward

• It helps you borrow more money

• It lets you avoid saving

Which is an example of a want?

• Medicine

• Water

• Shoes

• A new video game

What is the first step to saving money?

• Decide how much to save

• Spend all your money first

• Borrow from a friend

• Wait until you have a lot of money

Which of the following helps you save money?

• Impulse buying

• Not having a plan

• Making a shopping list

• Spending without thinking

Why should you avoid using credit cards if you can’t pay them off right away?

• They’re not accepted everywhere

• You might lose them

• They charge interest, which costs more

• They help you save money

Which is a smart way to save on groceries?

• Buy things you don’t need

• Make a list and stick to it

• Shop without checking prices

• Buy the most expensive brands

How can you keep track of your savings?

• Don’t check your account

• Keep all your receipts

• Write down or check your savings regularly

• Spend as much as possible