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Money Myths vs. Money Facts Quiz

Total questions: 26

Worksheet time: 18mins

Name
Class
Date
1.

If you have a good job, you don't need to budget.

a)

Myth

b)

Fact

2.

Credit cards are free money.

a)

Myth

b)

Fact

3.

You should start saving money when you're an adult.

a)

Myth

b)

Fact

4.

Buying something on sale always means you're saving money.

a)

Myth

b)

Fact

5.

You need a lot of money to start investing.

a)

Myth

b)

Fact

6.

Saving just a little bit every week can make a big difference.

a)

Myth

b)

Fact

7.

If you don't make a lot of money, it's not worth saving.

a)

Myth

b)

Fact

8.

Budgeting is only for people with money problems.

a)

Myth

b)

Fact

9.

Having a high salary means you're financially successful.

a)

Myth

b)

Fact

10.

Using a budget can help you reach your money goals faster.

a)

Myth

b)

Fact

11.

You can't save money if you're paying off debt.

a)

Myth

b)

Fact

12.

It's better to spend now and save later.

a)

Myth

b)

Fact

13.

Using cash helps you control spending better than cards.

a)

Myth

b)

Fact

14.

Only adults can open a savings account.

a)

Myth

b)

Fact

15.

You don't need to check your bank account often.

a)

Myth

b)

Fact

16.

You shouldn't talk about money.

a)

Myth

b)

Fact

17.

Investing is the same as gambling.

a)

Myth

b)

Fact

18.

If you can afford the monthly payment, you can afford the item.

a)

Myth

b)

Fact

19.

All debt is bad.

a)

Myth

b)

Fact

20.

You don't need an emergency fund if you have a credit card.

a)

Myth

b)

Fact

21.

When we budget or buy things what do we need to know?

a)

How much you will get paid next week.

b)

How much money you have

c)

Weekend plans

22.

What do we need to know when budgeting or buying things?

a)

How much you will be paid next week.

b)

How much money you have

c)

Weekend plans

23.

¿Qué necesitamos saber cuando presupuestamos o compramos cosas?

a)

Cuánto te pagarán la próxima semana.

b)

Cuánto dinero tienes

c)

Planes de fin de semana

24.

Is tracking your spending important for managing your budget?

a)

No

b)

Yes

25.

Which of the following is a good reason to save money?

a)

To be prepared for emergencies

b)

To spend more on things you don't need

c)

To avoid making a budget

26.

Setting financial goals can help you manage your money better.

a)

Fact

b)

Myth