Money Skills for Teens

Money Skills for Teens

12th Grade

15 Qs

quiz-placeholder

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Money Skills for Teens

Money Skills for Teens

Assessment

Quiz

Financial Education

12th Grade

Hard

Created by

Esohe Igho-Osagie

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary purpose of creating a budget?

To track your spending habits

To ensure you spend more than you earn

To avoid paying taxes

To increase your debt

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a common method for saving money?

Spending all your income

Using a high-interest savings account

Investing in high-risk stocks only

Ignoring your financial goals

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a mutual fund?

A type of savings account with a fixed interest rate

A pool of money collected from many investors to invest in securities

A loan given to a friend

A type of credit card

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a good practice for managing credit cards?

Maxing out your credit limit

Paying only the minimum payment each month

Paying off the full balance each month

Ignoring the credit card statements

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the first step in setting financial goals?

Spending all your money

Identifying your financial priorities

Ignoring your income

Taking out a loan

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of taxes?

To reduce the national debt

To fund public services and infrastructure

To increase personal savings

To discourage spending

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a fixed expense?

Groceries

Rent

Entertainment

Dining out

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