Financial Literacy Diagnostic

Which of the following is a way to save money?

• Spending all your allowance on toys

• Putting a portion of your allowance in a savings account

• Buying snacks every day after school

• Borrowing money from friends

• $12.50

• $13.50

• $14.50

• $15.50

What is the main purpose of a budget?

• To keep track of your favourite movies

• To plan how to spend and save your money

• To list all the games you want to buy

• To record your daily activities

If you earn $5 per week for doing chores, how much will you have after 4 weeks?

• $15

• $20

• $25

• $30

Which of the following is an example of a need?

• A new video game

• A winter coat

• A smartphone

• A skateboard

If you have 3 quarters, 2 dimes, and 4 nickels, how much money do you have in total?

• $1.00

• $1.15

• $1.25

• $1.35

What is the term for money you earn from working?

• Savings

• Income

• Debt

• Expense

• $3

• $4

• $5

• $6

Which of the following is a good financial habit?

• Spending more than you earn

• Saving a portion of your income regularly

• Ignoring your budget

• Borrowing money frequently

• $30.25

• $31.25

• $32.25

• $33.25