Money and Budgeting for First Graders: A Comprehensive Guide

Question 1

What is the total value of 1 quarter, 1 dime, and 2 nickels?

Accepted Answer

45 cents

Answer

25 cents

Answer

60 cents

Answer

75 cents

Question 2

Why is it important to save money?

Accepted Answer

To have money for future needs

Answer

To impress your friends

Question 3

What is a good way to manage your money?

Accepted Answer

Make a list of your expenses

Answer

Spend all of your money as soon as you get it

Answer

Borrow money from your parents whenever you need it

Question 4

What is a good way to make wise spending decisions?

Accepted Answer

Compare prices before you buy something

Answer

Buy everything you see that you like

Question 5

What is NOT a good way to save money?

Accepted Answer

Buying things you don't need

Answer

Putting money in a piggy bank

Question 6

What's a smart way to keep some of your money safe?

Accepted Answer

Put some money in a piggy bank

Answer

Spend all your money right away

Answer

Buy things you don't really need

Question 7

What is the smallest US coin?

Accepted Answer

Penny

Answer

Nickel

Answer

Dime

Answer

Quarter

Question 8

What is a budget?

Accepted Answer

A plan for using money

Answer

A list of all your money

Answer

A way to save money

Answer

A way to donate money

Question 9

Which of the following is NOT a way to earn money?

Accepted Answer

Buy lottery tickets

Answer

Get a job

Answer

Do chores around the house

Answer

Sell lemonade

Question 10

What is the difference between a need and a want?

Accepted Answer

A need is something you must have to survive, while a want is something you would like to have but can live without

Answer

A want is something you must have to survive, while a need is something you would like to have but can live without

Answer

A need is something that is expensive, while a want is something that is inexpensive

Answer

A want is something that is important, while a need is something that is not important

Question 11

What is a good way to save money?

Accepted Answer

Put it in a piggy bank.

Answer

Spend it all at once.

Answer

Hide it under your mattress.

Answer

Give it to a friend.

Question 12

What is a budget?

Accepted Answer

A plan for how you will spend your money

Answer

A list of all the things you want to buy

Answer

A way to get more money

Answer

A type of financial institution

Question 13

What is the difference between a need and a want?

Accepted Answer

Needs are things we have to have, wants are things we would like to have

Answer

Wants are things we have to have, needs are things we would like to have

Answer

Needs and wants are the same thing

Answer

There is no difference

Question 14

How much is a penny worth?

Accepted Answer

1 cent

Answer

5 cents

Answer

10 cents

Answer

25 cents

Question 15

Which of these is a smart way to manage your money?

Accepted Answer

Saving some of your money

Answer

Spending all your money at once

Answer

Borrowing money from friends and family

Answer

Hiding your money from your parents

Question 16

What is the highest amount of money on a US paper bill?

Accepted Answer

$100

Answer

$1

Answer

$5

Answer

$20

Question 17

How can you save your money?

Accepted Answer

Put some of your money in a piggy bank or savings account.

Answer

Spend all your money now.

Answer

Borrow money from your friends or family.

Answer

Throw some of your money away.

Question 18

Which of the following is NOT money?

Accepted Answer

Toy car

Answer

Dollar bill

Answer

Penny

Answer

Quarter

Question 19

How much is this quarter worth?

Accepted Answer

25 cents

Answer

5 cents

Answer

50 cents

Answer

100 cents

Question 20

What is a plan for how you will spend your money called?

Accepted Answer

A budget

Answer

A wish list

Answer

A shopping list

Answer

A savings goal

Question 21

Which of the following is something you NEED?

Accepted Answer

Food

Answer

New video game

Answer

Designer clothes

Answer

Fancy car

Question 22

What should you do before making a purchase?

Accepted Answer

Think about whether you need it first

Answer

Ask your parents for permission

Answer

Just buy it right away

Answer

Borrow money from a friend

Question 23

How much is a penny worth?

Accepted Answer

1 cent

Answer

5 cents

Answer

10 cents

Answer

25 cents

Question 24

Why is it important for people to learn about managing their money?

Accepted Answer

It helps them make better decisions about spending and saving.

Answer

It helps them only buy things they need.

Question 25

What kind of money do we use in the United States?

Accepted Answer

Dollars

Answer

Euros

Answer

Pounds

Question 26

Which of these is a smart way to spend money?

Accepted Answer

Saving up for something you want

Answer

Buying a new toy every day

Answer

Spending all your money on candy

Question 27

Which of these is a good way to save money?

Accepted Answer

Putting money in a piggy bank

Answer

Hiding money under your bed

Answer

Lending money to your friends

Question 28

What happens when inflation occurs?

Accepted Answer

The cost of things goes up

Answer

The value of money goes down

Answer

The economy gets bigger

Question 29

Which of these is NOT a good thing about saving money?

Accepted Answer

It makes you more popular

Answer

It can help you reach your goals

Answer

It can protect you from unexpected events

Question 30

Which of the following is NOT a type of currency?

Accepted Answer

Stamps

Answer

Coins

Answer

Bills

Answer

Gift cards

Question 31

How much is a quarter worth?

Accepted Answer

25 cents

Answer

5 cents

Answer

10 cents

Answer

50 cents

Question 32

Which of these helps you earn money?

Accepted Answer

Working

Answer

Saving

Answer

Borrowing

Answer

Spending

Question 33

What is a good way to handle your money?

Accepted Answer

Saving some for later

Answer

Spending it all at once

Answer

Borrowing more

Answer

Giving it to friends

Question 34

What is the purpose of a budget?

Accepted Answer

To keep track of money

Answer

To make it rain

Answer

To let you buy anything you want

Answer

To lose money

Question 35

What is a good way to save money?

Accepted Answer

Putting it in a piggy bank

Answer

Spending it on entertainment

Answer

Borrowing it to others

Answer

Investing it

Question 36

What is the difference between a need and a want?

Accepted Answer

Needs are essential, wants are not

Answer

Wants are essential, needs are not

Answer

They are the same thing

Answer

Needs are for adults, wants are for kids

Question 37

Which of these is NOT a coin used in the United States?

Accepted Answer

Ruble

Answer

Penny

Answer

Nickel

Answer

Dime

Question 38

Which coin is worth 5 cents?

Accepted Answer

Nickel

Answer

Penny

Answer

Dime

Answer

Quarter

Question 39

What is the first thing you should do when making a budget?

Accepted Answer

Track your income and expenses

Answer

Spend all your money

Answer

Save half of your money

Answer

Ask your parents for more

Question 40

How much is a penny worth?

Accepted Answer

1 ¢

Answer

5 ¢

Answer

10 ¢

Answer

25 ¢

Question 41

Which of these would be considered "saving for a future goal"?

Accepted Answer

Putting money in a savings account

Answer

Buying a new toy

Answer

Spending money on a movie

Answer

Lending money to a friend

Question 42

What is the main purpose of a budget?

Accepted Answer

To help you manage your money

Answer

To make you rich

Answer

To tell you how to spend your money

Answer

To make your parents happy

Question 43

Which of these is a good financial skill to have?

Accepted Answer

Saving for the future

Answer

Spending all your money as soon as you get it

Answer

Borrowing money from friends and family

Answer

Buying things you don't need

Question 44

What's the best way to save money?

Accepted Answer

Spend less than you earn

Answer

Borrow money from others

Answer

Buy things you don't need

Question 45

Which of these is a type of money we use?

Accepted Answer

A dollar bill

Answer

A toy car

Answer

A piece of paper

Question 46

Why do we earn money?

Accepted Answer

To buy things we need or want

Answer

To make friends

Answer

To play games

Question 47

Which of these is a good way to save money?

Accepted Answer

Putting it in a piggy bank

Answer

Spending it all at once

Answer

Giving it to a friend

Question 48

What should you think about before spending money?

Accepted Answer

What you need and if you can afford it

Answer

If your friends are spending money

Answer

If it's something you really want

Question 49

Which of these is a good way to earn money?

Accepted Answer

Working a job like helping your parents

Answer

Winning the lottery

Answer

Stealing it from someone

Question 50

Which of these is a good way to manage your money?

Accepted Answer

Keeping track of what you spend

Answer

Spending more than you earn

Answer

Borrowing money from others without asking

Question 51

What is the value of a dime?

Accepted Answer

10 cents

Answer

5 cents

Answer

25 cents

Question 52

What is NOT a good way to earn money?

Accepted Answer

Taking money from others without asking

Answer

Working hard

Answer

Saving wisely

Question 53

What is the job of money in our lives?

Accepted Answer

To buy and sell things we need or want

Answer

To make people happy

Answer

To control people

Question 54

What is NOT a form of money?

Accepted Answer

Rocks

Answer

Coins

Answer

Paper bills

Answer

Checks

Question 55

Which is the smallest coin in the United States?

Accepted Answer

Penny

Answer

Nickel

Answer

Dime

Answer

Quarter

Question 56

What does it mean to save money?

Accepted Answer

Putting money aside for future use

Answer

Spending money on fun things

Answer

Borrowing money from a bank

Answer

Losing money

Question 57

What is the main difference between a need and a want?

Accepted Answer

Needs are things you must have, while wants are things you would like to have

Answer

Wants are things you must have, while needs are things you would like to have

Answer

Needs and wants are both things you must have

Answer

There is no difference between needs and wants

Question 58

Which of these is NOT a wise spending decision?

Accepted Answer

Buying something without thinking about it

Answer

Saving money for a big purchase

Answer

Comparing prices before buying

Answer

Using coupons and discounts

Question 59

What is a budget?

Accepted Answer

A plan for how to spend and save money

Answer

A list of all your toys

Answer

A way to track your expenses

Answer

A kind of game

Question 60

Which of these is not a type of money?

Accepted Answer

Stamps

Answer

Coins

Answer

Dollars

Answer

Credit cards

Question 61

How can you earn money?

Accepted Answer

By doing chores for your parents

Answer

By finding it on the street

Answer

By winning the lottery

Answer

By taking it from someone

Question 62

Which way will help you budget your money?

Accepted Answer

Making a list of your costs

Answer

Not tracking it at all

Answer

Asking your mom to keep your money for you

Answer

Spending all your money right away

Question 63

Which of these is NOT a good saving habit?

Accepted Answer

Buying everything you want

Answer

Making a plan for how you will save

Answer

Putting money away each month

Answer

Investing your saved money

Question 64

What is inflation?

Accepted Answer

When prices go up

Answer

When prices go down

Answer

When there is no money

Answer

When the government makes more money