Smart Money- Smart Kids

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10 points

High school age kids should save _____ for emergencies.

$100

$250

$1000

$500

10 points

According to Rachel, it is possible to both use a credit card for everyday purchases and do a zero-based budget.

True

False

10 points

Instead of allowances, Dave and Rachel say to use the word ________.

bid

stipend

commission

paycheck

10 points

"If you spend all your money on X, then you can't also spend your money on Y best describes:"

opportunity costs

spending wisely

patience

retail therapy

10 points

When it comes to buying a car, Dave and Rachel suggest:

children buy their own car

children should share car

Matching what your child saves on a car to double their money.

parents buy a car for their children

10 points

There are some chores that kids should do for just being part of the family.

True

False

10 points

Dave and Rachel suggest a small allowance that won't last the week and then giving children the opportunity to earn money by doing chores.

True

False

10 points

Children can do household chores and earn money by doing them as early as three years old.

True

False

10 points

Which of the following statements about giving is true?

Children ages 6 to 13 should have a give envelope in addition to spend and save envelopes.

Giving is a lifelong habit

Starting at the age of fourteen, children should start to give their time and talent.

All of these are true.

10.

10 points

Being the daughter of a financial guru, Rachel never had her own money problems.

True

False

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