Money Matters: A Fun and Engaging Introduction to Personal Finance for Second Graders

Question 1

Which of these is NOT a good way to save money?

Accepted Answer

Spending it on toys

Answer

Putting it in a piggy bank

Answer

Putting it in a savings account

Answer

Investing it wisely

Question 2

Why is investing your money a smart idea?

Accepted Answer

It can make your money grow

Answer

It can make you lose all your money

Answer

It's a quick way to get rich

Answer

It's a great way to spend your money

Question 3

What is the main purpose of a piggy bank?

Accepted Answer

To help you save money

Answer

To help you spend money

Answer

To use as a toy

Answer

To store candy

Question 4

What should you do if you don't have enough money to buy something you want?

Accepted Answer

Find a way to earn the money

Answer

Take money out of your savings

Answer

Ask your parents for more money

Answer

Take it without asking

Question 5

Which of these is a good financial goal?

Accepted Answer

Saving money for your future education

Answer

Buying a new toy every month

Answer

Spending all your money on candy

Answer

Borrowing money from your friends

Question 6

What is the first step when creating a budget?

Accepted Answer

Write down how much money you earn

Answer

Write down how much money you spend

Answer

Subtract your expenses from your income

Answer

Figure out how much money you have left

Question 7

What is the safest way to borrow money?

Accepted Answer

From a bank or credit union

Answer

From a friend or family member

Answer

From a loan shark

Answer

From a payday lender

Question 8

How can you protect your money?

Accepted Answer

Keep it in a safe place

Answer

Carry it around with you

Answer

Hide it under your bed

Answer

Give it to a stranger

Question 9

What's the most important thing to remember about personal finance?

Accepted Answer

Save and invest your money

Answer

Spend all your money on things you want

Answer

Having fun is more important than money

Answer

Money isn't important

Question 10

What's a good way to save some of your money?

Accepted Answer

Keep it in a piggy bank.

Answer

Spend it all right away.

Answer

Ask your friends for more money.

Question 11

Which of these is NOT a way to save money?

Accepted Answer

Take out a loan from a bank.

Answer

Put some money aside in a savings account.

Answer

Spend less than you earn.

Answer

Put money into stocks.

Question 12

What's the difference between a need and a want?

Accepted Answer

Wants are things you don't really need, while needs are things you can't live without.

Answer

Needs are things you don't really need, while wants are things you can't live without.

Answer

Needs and wants are the same thing.

Answer

Needs are less important than wants.

Question 13

Which of these is a good way for kids to invest their money?

Accepted Answer

Putting money in a savings account.

Answer

Buying stocks.

Answer

Buying a lottery ticket.

Answer

Buying candy.

Question 14

What do banks do?

Accepted Answer

Keep and lend money.

Answer

Sell cars.

Answer

Teach people about money.

Answer

Provide medical care.

Question 15

Why is it important to be responsible with money?

Accepted Answer

To avoid debt and money problems.

Answer

To show off to your friends.

Answer

To get a good job.

Answer

To be happy.

Question 16

Which of these is NOT a financial goal?

Accepted Answer

Eating candy every day.

Answer

Saving money for a new toy.

Answer

Buying a house.

Answer

Paying for school.

Question 17

What's the difference between a debit card and a credit card?

Accepted Answer

Debit cards take money out of your account now, while credit cards let you borrow money.

Answer

Credit cards take money out of your account now, while debit cards let you borrow money.

Answer

Debit cards and credit cards are the same.

Answer

Debit cards are better than credit cards.

Question 18

Which of these is the best way to save money?

Accepted Answer

Spend less than you earn

Answer

Buy everything you want

Answer

Ask your parents for more money

Answer

Not put money in a savings account

Question 19

What is a budget?

Accepted Answer

A plan for how you will spend your money

Answer

A list of all your expenses

Answer

A way to make money

Answer

A record of how much money you have

Question 20

Which of these is NOT a good way to invest money?

Accepted Answer

Hiding it under your mattress

Answer

Putting it in a savings account

Answer

Buying stocks

Answer

Investing in a business

Question 21

What is the difference between a need and a want?

Accepted Answer

Needs are things you need to survive, while wants are things you would like to have but don't need

Answer

Wants are things you need to survive, while needs are things you would like to have but don't need

Answer

Needs and wants are the same thing

Answer

There is no difference between a need and a want

Question 22

Which of these is a good way to compare prices?

Accepted Answer

Looking at the price tags

Answer

Asking your friends what they paid

Answer

Guessing which one is cheaper

Answer

Flipping a coin

Question 23

How much is a penny worth?

Accepted Answer

1 cent

Answer

5 cents

Answer

10 cents

Answer

25 cents

Question 24

Which is NOT a reason to save money?

Accepted Answer

To buy your friends gifts.

Answer

To have money for emergencies.

Answer

To buy things you want.

Answer

To help you get out of debt.

Question 25

What is inflation?

Accepted Answer

When the prices of goods and services go up.

Answer

When the value of money goes down.

Answer

When the economy is doing well.

Answer

When interest rates go up.

Question 26

Which of these is a good investment?

Accepted Answer

A savings account.

Answer

A lottery ticket.

Answer

A new car.

Answer

A baseball card collection.

Question 27

What is the Federal Reserve?

Accepted Answer

The central bank of the United States.

Answer

A private bank.

Answer

A government agency that helps people manage their money.

Answer

A non-profit organization that regulates banks.

Question 28

What is the main purpose of a credit card?

Accepted Answer

To borrow money.

Answer

To make purchases.

Answer

To build credit.

Answer

To save money.

Question 29

What do you call a plan that helps you spend your money wisely?

Accepted Answer

Budget

Answer

Savings plan

Answer

Investment plan

Answer

Loan plan

Question 30

What is a good way to save money?

Accepted Answer

Putting some money aside in a safe place

Answer

Spending all your money

Answer

Borrowing money from a friend

Answer

Taking out a loan

Question 31

What do you call the money you earn from your job?

Accepted Answer

Income

Answer

Savings

Answer

Investments

Answer

Expenses

Question 32

What is the safest place to keep your money?

Accepted Answer

In a savings account at a bank

Answer

Under your bed

Answer

In your wallet

Answer

In a shoebox

Question 33

What is the difference between a need and a want?

Accepted Answer

A need is something you have to have to survive, while a want is something you would like to have

Answer

A want is something you have to have to survive, while a need is something you would like to have

Answer

There is no difference between a need and a want

Answer

A need is something you can live without, while a want is something you cannot live without

Question 34

What is a good way to make more money?

Accepted Answer

Getting a job or doing chores around the house

Answer

Winning the lottery

Answer

Investing your money

Answer

Borrowing money from your parents

Question 35

What is a good way to save for a special purchase, like a new toy?

Accepted Answer

Putting aside some money each week

Answer

Spending all your money on other things

Answer

Borrowing money from a friend

Answer

Taking out a loan

Question 36

What is the most important thing to remember about personal finance?

Accepted Answer

That it is important to be responsible with your money

Answer

That it is only for adults

Answer

That you should never spend money

Answer

That it is complicated and difficult to understand

Question 37

Which of these is NOT a good way to save money?

Accepted Answer

Borrow money from a friend

Answer

Put money in a piggy bank

Answer

Spend less than you earn

Question 38

How can you earn money?

Accepted Answer

Working for an allowance

Answer

Finding something that someone dropped

Answer

Asking for something without helping

Answer

Waiting for a lucky chance

Question 39

What is the difference between a need and a want?

Accepted Answer

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

Answer

A need is something you buy, while a want is something you get for free

Question 40

What do banks do?

Accepted Answer

Keep money safe and help save it

Answer

Take money for keeping your money safe

Answer

Give you money when needed

Answer

Sell toys and games

Question 41

What is a credit card?

Accepted Answer

A card used to borrow money

Answer

A card used to save money

Answer

A card that gives you free money

Question 42

How do we make wise financial decisions?

Accepted Answer

Plan ahead and think about the consequences

Answer

Spend all the money at once

Answer

Follow what friends say

Question 43

What is a financial goal?

Accepted Answer

Something you save for over time

Answer

Something you buy right away

Answer

Something you borrow money for

Question 44

How can we learn about personal finance?

Accepted Answer

Ask parents, teachers, or a financial advisor

Answer

Watch television

Answer

Play games

Question 45

What is the most important thing about personal finance?

Accepted Answer

Plan ahead and make wise decisions

Answer

Borrow as much money as possible

Answer

Spend all your money

Question 46

What is the first step in creating a personal budget?

Accepted Answer

Tracking your income and expenses

Answer

Investing your money

Answer

Setting savings goals

Answer

Finding ways to reduce spending

Question 47

What is a good way to save money?

Accepted Answer

Putting a small amount of money into a savings account regularly

Answer

Borrowing money from friends and family

Answer

Spending all your money right away

Question 48

What is the best resource to compare features of different bank accounts?

Accepted Answer

Reading the account terms and conditions

Answer

Relying on advertisements

Answer

Asking friends or family for advice

Question 49

Why is it important to pay off your credit card balance each month?

Accepted Answer

To avoid paying high interest charges

Answer

To impress your friends

Answer

To get a better credit score

Question 50

What is a main purpose of insurance?

Accepted Answer

To protect against financial losses

Answer

To pay for medical bills

Answer

To make money

Question 51

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

Needs are always more important than wants

Answer

Wants are always more expensive than needs

Question 52

Which of the following is a good way to earn extra money?

Accepted Answer

Getting a part-time job

Answer

Stealing money

Answer

Winning the lottery

Answer

Borrowing money from your parents

Question 53

Why is financial literacy important?

Accepted Answer

It helps you make informed financial decisions

Answer

It is required by law

Answer

It makes you rich

Answer

It only applies to adults

Question 54

What is a warning sign of financial difficulty?

Accepted Answer

Not being able to pay your bills on time

Answer

Investing in the stock market

Answer

Having money in savings

Answer

Having a good credit score