WorksheetsMoney Matters
Total questions: 15
Worksheet time: 8mins
What is a budget?
A plan for how to spend and save money
A list of things you want to buy
A type of bank account
A way to earn more money
Which of the following is a good tip for saving money?
Spend all your pocket money at once
Save a portion of your pocket money each week
Borrow money from friends
Buy things on impulse
What is interest?
The amount of money you borrow
The extra money you earn or pay on top of the original amount
The total amount of money in your bank account
The fee for opening a bank account
Which of the following is a need?
A new video game
Food and water
A smartphone
A holiday
Which of the following is a want?
Medicine
Shelter
Designer clothes
School supplies
What is investing?
Spending money on things you want
Putting money into something to earn more money over time
Saving all your money in a piggy bank
Borrowing money from a bank
Why is it important to give back to the community?
It helps you earn more money
It makes you feel good and helps others
It is required by law
It helps you save money
What is the first step in creating a budget?
Spend money on wants
List your income and expenses
Borrow money
Open a new bank account
Which of the following is a good way to save money on groceries?
Buy only branded items
Make a shopping list and stick to it
Shop when you are hungry
Buy more than you need
What does APR stand for in terms of interest rates?
Annual Percentage Rate
Annual Payment Rate
Average Payment Rate
Annual Profit Rate
Which of the following is an example of a fixed expense?
Eating out
Monthly rent
Buying clothes
Going to the cinema
What is a good reason to save money?
To buy things you don't need
To have money for emergencies
To impress friends
To spend it all at once
What is compound interest?
Interest calculated only on the initial amount
Interest calculated on the initial amount and also on the accumulated interest
Interest that decreases over time
Interest that is paid monthly
Which of the following is a good way to differentiate between needs and wants?
Needs are things you can live without
Wants are things you must have to survive
Needs are essential for survival, wants are not
Wants are more important than needs
Why is it important to start investing early?
To spend more money
To take advantage of compound interest
To avoid saving money
To borrow more money
