Edfundo Presents: Global Money Week 2025 Quiz!

What is the main difference between a need and a want?

• 
  A need is something you can live without, a want is essential for survival.

• 
  A need is something you buy for fun, a want is something you save for.

• 
  A need is something you must have to survive, a want is something fun but not essential.

• A need is something you want, a want is something you need.

How can understanding the difference between needs and wants help in budgeting?

• It encourages you to ignore all wants.

• 
  It allows you to prioritize spending on essentials over non-essentials.

• 
  It has no impact on budgeting.

• 
  It makes it easier to spend more on luxury items.

What is the best way to verify if a financial app is safe to use?

• Check if it has a lot of downloads

• Read reviews and ensure it’s from a trusted developer

• Use it if your friends recommend it

• Ignore the app’s privacy policy

What is a red flag in financial advice?

• It encourages you to save money

• It promises guaranteed returns with no risk

• It comes from a trusted adult

• It teaches you about budgeting

When you save money in a bank, you earn extra money called

(a)  

How can creating a savings plan impact your financial future?

• It helps you prepare for unexpected expenses.

• It has no effect on your finances.

• It makes budgeting unnecessary.

• It encourages you to spend more.

Sara finds a message on her phone that she thinks might be a scam.  She should:

• Forward the message to her friends to see if they think it's a scam too.

• Reply and ask the sender not to send more mail.

• Delete the message.

Why should you be careful about financial advice from finfluencers?

• All finfluencers are experts

• Some finfluencers might give biased or incorrect advice

• Finfluencers always tell the truth

• Financial advice from finfluencers is always free

What should you do before following advice from a finfluencer?

• Follow their advice immediately

• Verify the information with a trusted adult or reliable source

• Share their advice with all your friends

• Ignore your own financial goals

What should you consider when evaluating a financial advisor?

• How many social media followers they have

• Whether they offer free services

• Whether they have a flashy website

• Their qualifications and experience