Old Money vs New Money

What is one reason old money families stay rich?

• They spend all their money quickly

• They invest and manage their wealth carefully

• They avoid teaching their children about money

• They do not believe in saving money

What do old money families expect from younger generations?

• To ignore money management

• To continue managing the family’s wealth

• To spend all their money on luxuries

• To avoid discussing financial matters

Why do old money families often prefer property as an investment?

• It is the cheapest option available

• It is likely to grow in value

• It is easy to sell quickly

• It requires no management

What is the main lesson old money parents teach their children?

• How to spend money quickly

• How to manage money effectively

• How to avoid paying taxes

• How to ignore financial literacy

What does the term ‘new money’ refer to?

• Individuals who lost their wealth

• People who have just recently become wealthy

• Families who have been rich for generations

• Those who do not care about money

Which statement is true about self-made billionaires?

• They inherit their wealth

• They create their wealth through hard work

• They are embarrassed about being wealthy

• They do not have to manage their money

What is one thing that old money families take pride in?

• Their wealth has been passed down for generations

• They do not care about their wealth

• They spend money on anything they want

• They avoid discussing money with others

How do self-made billionaires compare to old money families?

• They have less money

• They often have more social standing

• They create their wealth from the ground up

• They are less hard-working

What does the author suggest is less important than before?

• The wealth of old money families

• The number of self-made millionaires

• The labels of old money and new money

• The amount of money earned

What is the main message of the text regarding wealth?

• Focus on labels rather than lessons

• Hard work is important in creating wealth

• Wealth should be spent without care

• Money is not important at all