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WorksheetsMoney Quiz
Total questions: 16
Worksheet time: 10mins
Choose ALL the right reasons for budgeting
It is a plan for my money
I have been told to do so by other people
It helps me make sure that I do not spend more money than I have
It helps me prioritise what to spend my money on
When budgeting, it is key to make sure that...
Your expenses are less than your income
Your income is less than your expenses
Choose the correct option:
When Budgeting...
it is okay to just make a plan at the start of the month and keep it in my mind vaguely
it is good to make a plan, review it regularly and adjust it if it's not working
Select ALL off the reasons why it is important to save
It allows me to protect my buying power
It allows me to have money for emergencies
It allows me to buy things I need now
It allows me to plan for big long term purchases
I should keep my savings...
in my friend's bank account
under my mattress
in a separate, interest-bearing, account
in a high-risk investment
Imagine that the interest rate on your savings account was 1% per year and inflation was 2% per year. After 1 year, how much would you be able to buy with the money in this account?
Exactly the same
More than today
Less than today
Suppose you had R100 in a savings account and the interest rate was 2% per year. After 5 years, how much do you think you would have in the account if you left the money to grow?
Exactly R102
More than R102
Less than R102
Select ALL of the valid reasons for using an emergency fund
unexpected car issue
to use as income when you loose your job
buy the latest sneakers
unexpected medical issue
Debt is...
The money I owe to other people and organisations
The money other people and organisations owe me
The money I have put away for future use
Interest is...
The percentage I get charged extra on my debt
The percentage growth I earn on my savings
True or False:
A 15-year home loan typically requires higher monthly payments than a 30-year home loan, but the total interest paid over the life of the loan will be less.
True
False
A credit score is...
A score given to you based on how well you have managed your credit in the past
A score given to a credit provider based on how well they manage their credit
A score given to different loans based on their interest rate and repayment terms
I can improve my credit score by...
using all the credit available to me in full
making payments on time
not skipping debt repayments
staying out of debt completely
Select the two factors that have the biggest impact on your investments
The Investment Company
Interest Rate
Time
How much more money will Thabiso have than Lesego when they reach age 65.
*interest rate at 8%
around 1.75 times more money than Lesego
around 2.5 times more money than Lesego
around 2 times more money than Lesego
True or False:
Buying a single company's stock usually provides a safer return than a stock unit trust or ETF
True
False
