Navigating Saving, Spending, and Sharing in Financial Literacy

What was Jay's initial approach to managing his money?

• He donated all to charity.

• He invested in stocks.

• He spent money without tracking.

• He saved everything he earned.

What led Jay to realize the importance of budgeting?

• His friends told him about it.

• He always had plenty of money left.

• He ran out of money for bus fare.

• He won a lottery.

What did Jay's mother give him to help with budgeting?

• A calculator

• A book on finance

• Three piggy banks

• A new wallet

What does the first piggy bank represent?

• Saving

• Sharing

• Spending

• Investing

What is the role of the second piggy bank?

• To collect money for friends

• To save for future expenses

• To hold money for daily expenses

• To invest in stocks

How does the sharing piggy bank help Jay?

• By saving for college

• By investing his money

• By sharing with those in need

• By buying toys

What did Jay plan to buy after saving for three weeks?

• A new phone

• A video game

• Light up sneakers

• A bicycle

Why is budgeting important according to the video?

• It helps in spending more money.

• It assists in saving for big purchases.

• It is not necessary if you have enough money.

• It is only useful for adults.

What lesson did Jay learn from his budgeting experience?

• To only focus on saving money

• To ignore the importance of sharing

• To save a portion of his money for future needs

• To spend money as soon as he gets it

How can budgeting benefit your community?

• By ignoring financial planning

• By supporting communal causes

• By increasing personal spending

• By reducing individual savings