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WorksheetsBanzai Junior
Total questions: 25
Worksheet time: 13mins
AN IOU is an example of :
A savings account
Your favorite band
A personal loan
A spending plan
How does your money grow once you put it in a savings account?
The bank give you more money over time.
The money fairy appears and adds more every year
Your mom puts money in your account every birthday,
It doesn't grow. The amount stays the same until you add it yourself.
Which of these is not an example of income?
Money you earn from your lemonade stand.
Money your grandma gave you for your birthday.
Money you borrowed from your friend.
Money you get for an allowance.
What is a good example of a financial goal?
To save for a college fund.
To buy a new guitar and pay for lessons.
To earn enough to buy a pet hamster.
All of the above.
What's the best way to make change at the grocery store?
Using the most coins and dollars possible.
Using the fewest coins and dollars possible.
Using only coins
All of the above
Why would someone create a budget?
To keep track of money earned and money spent
To find out how much money they will earn.
To kep track of how much money is in their savings account.
None of the above
Which of the following could be considered a business expense?
Back to school clothes
The money you put into your savings account every month.
Fees for your soccer team.
The dog treats you bought for your dog walking business.
You make $12.75 running a lemonade stand with your BFF. If your supplies cost $3.75 to purchase and you split the profit equally with your friend, how much money will you make?
$9.00
$4.50
$12.50
$3.75
What is the best way to create a budget?
Put everything into a jar and withdraw from it as needed.
Divide your money into categories according to what the money is for.
Divide your money in half. Save half and spend half.
Put$20 into savings, $20 into IOU, and the rest into spending.
Your little sister tells you she wants to buy some taffy from the store, but dosn't have enough money. If you give her the money and make her promise to pay it back, what are you doing?
Lending her money
Borrowing her money.
Taxing her money.
Budgeting her money.
Which of these is a reason to keep your money in a savings account?
Your money will be safe.
You'll earn interest.
It will help remind you to save for your goals.
All of the above.
What is a vendor?
Someone who sells a product.
A machine where you can buy soda and snacks.
A type of savings account.
Someone who has a budget.
What's Interest?
Money that you put in a savings account
Money that a bank or credit union pays you each month to keep your money in a saving account.
Money left over after you pay expenses.
Money that you spend on your hobbies.
What's the difference between a deposit and a withdrawal?
They are different words for the same thing.
A deposit is a type of budget and a withdrawal is a type of bank account.
A deposit is when you take money out of a bank account and a withdrawal is when you put money in.
A withdrawal is when you take money out of a bank account and a deposit is when you put money in.
You've decided to start making and selling brownies. you want to team up with a friend. What would that mean for your business?
You'll be able to make more brownies.
You'll probably be able to sell more brownies.
You'll have to split your profits.
All of the above.
Which of the following is true about sales tax?
It's included in the prices of things that you buy.
It's added on top of your final total at the store.
Kids don't have to pay sales tax.
Sales tax can only be paid for with change.
What happens if you spend money on something you didn't plan for in your budget?
You'll hve to pay an extra fee because you didn't plan to spend that much.
You'll never reach your savings goal.
You'll need to look at your budget and change it for the new expense.
You can't spend money if you didn't budget for it.
You're dying for a pair of sketchers sneakers to wear to school, but they're expensive. What is this an example of?
A long term goal
A need
An emergency purchase
An investment
What does it mean to have debt?
You have money in a savings account
You owe someone money
You have a budget
Someone owes you money.
What are two things you track in a budget?
Income and expenses
Expenses and savings
Income and sales tax
Candy and video games
The bike you want is $35 off! What should you do with the leftover money if your goal is to keep saving?
Buy some sweet wheels and a personalized helmet
Put it back in your wallet
Deposit it in your savings account
Keep it handy- you might want to buy something else soon.
Why is competition between sellers good for shoppers?
It's funny to watch.
It gives them more choices and better prices.
It gives them more deposits and lower sales tax
It means that there will be more sales tax
You've reached your goal of saving enough money for a hoverboard. Now what?
Set a financial goal and start saving toward it.
You no longer have to keep a budget. Congratulations
You get a bonus of $20
You can't buy it until you earn more money.
What will help you sell the most at your lemonade stand?
Buying cheaper lemons so you can make more lemonade.
Pricing your lemonade $0.05 lower than other stands so more people come.
Asking your friend to help so she can serve more customers.
All of the above
You earned $8 in cash from babysitting. What's the first thing you should always do?
Spend it
Enter $8 into your budget as income
Put it all in a savings account.
Withdraw the money so you can spend it.
