Money Matters

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