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WorksheetsPersonal Financial Literacy
Total questions: 18
Worksheet time: 50mins
Jan babysits for money. She is paid $7 each time. She saves all of the money she makes. If Jan wants to save $35, how many times does she need to babysit?
7 times
28 times
5 times
Billy received $6 each week for him allowance. He saves $4 each week and only spends $2. How much money will Billy have saved in 5 weeks?
$20
$12
$10
Pam wants to buy a sticker book for $32. She saves $5 each week. Which statement is true?
She will have enough money if she saves for 5 weeks
She will have enough money if she saves for 7 weeks
She will have enough money if she saves for 10 weeks
Julia's dad received $1,140 on his paycheck. He wants to save his money. Which statement describes the best choice for saving money?
Place the money in a bank account
Use the money for a family vacation
Go buy something he might be able to sell later
Shelly wants to buy some new shoes, but she doesn't have enough money saved. Which statement describes that best way for Shelly to save enough money to buy the shoes?
Spend all of her allowance each week on toys and games
Give her allowance to her brother so he can buy candy
Save the money her mom gives her for doing her chores each week
Which statement describes what happens when you spend money?
The amount of money you have decreases
The amount of money you have increases
The amount of money you have stays the same
Which statement does NOT describe a withdrawal from a bank account?
Using $30 from your savings account to pay for a sweater
Putting money from your paycheck into your checking account
Getting money from your account using an ATM
Uncle Jeff is going to travel to visit his mom. He goes to the bank because he needs to take some cash with him. Which statement describes Uncle Jeff taking money out of his account at the bank?
He is making a deposit
He is making a withdrawal
He is saving
Ben saved his money each week to buy his favorite game. He opened a savings account at the bank and each week he added the money he earned from doing his chores. Which statement describes Ben adding money into his account?
He is making a deposit
He is making a withdrawal
He is spending
Which situation is an example of borrowing?
Aunt Sally gives Tony an envelope with money for his birthday
David and Jack puts their money together to buy a bike they will share
Lisa asks her sister for money to buy a magazine and says she will pay her back later
Which situation is NOT an example of borrowing?
Robert gets money from his piggy bank to buy a book he wants
Bella's parents go to the bank and ask for a loan to buy a house
In a tore, Brenda purchases a TV with a sign that says "Buy it now, pay later"
Gabriel saved $45. He wants to buy a pair of shoes that cost $50. He asked his father to lend him the rest of the money so he could buy the shoes today. He promised to pay his father back when he gets his $10 allowance at the end of the week. Which statement best describes this situation?
This is responsible borrowing because Gabriel really wants the shoes.
This is responsible borrowing because Gabriel will be able to pay his father back and still have some of his allowance left over
This is irresponsible borrowing because Gabriel lied to his father about the price of the sport shoes.
Ava has no money saved. She has started chores at home earning $10 each week. Ava wants to buy a new game that costs $50. She asked her mom to lend her the money for the game. Ava promised to pay her mom back in two weeks. Which statement best describes this situation?
This is responsible borrowing because Ava really wants a new game
This is responsible borrowing because it will take Ava five weeks to earn the money to repay her mom instead of two weeks.
This is irresponsible borrowing because Ava will not be able to pay her mom back in two weeks.
Which situation is an example of lending?
Dan takes a $10 bill from her savings box and puts it in a birthday card for his brother
Victor is selling shirts for his team, His customers will pay him when he gives them the shirts
Jill will use her money to help Mary pay for a necklace if Mary pays her back later.
Randy needs $25 to have enough money to buy a bike. He asks his brother Jim to lend him the $25 from his savings. Randy promises to pay Jim back at the end of the month. Which statement might be a benefit for Jim if he lends the money to Randy?
Randy might not have the money to pay Jim back at the end of the month
Randy might let Jim ride his bike to show his thanks for lettin ghim borrow the money
Jim will mot have the money to spend until Randy pays him back.
Tammy likes her friend Jana's new doll. Tammy asks Jana if she can have the doll to play with for the weekend. Which statement could be a reason why Jana might not lend the doll to Tammy?
Tammy does not really like Jana's doll
Jana lent a toy to Tammy before and she took good care of it
Jana lent a toy to Tammy before and she broke it
Which statement describes a producer?
A restaurant manager buys onions at the market
A restaurant cook makes food for a customer
A restaurant owner pays his water bill
Which statement describes a consumer?
A farmer buys cotton seeds to paint in his field
A farmer grows corn to sell at the market
A farmer sells wheat to the company that will make the wheat into flour.
