The Money Sense Quiz

Test your tween's money sense - her making and spending skills - with this quiz. There are no right or wrong answers, only wise and not-so-wise choices about money. Tell your child to be honest with himself. When he's done, he can add up his score to learn how money savvy he really is, and learn some lessons about money skills.

The Money Sense Quiz

1. You just heard a new song on the radio. You like it so much, you...
   a. run out and buy the CD.
   b. buy every CD the band ever recorded.
   c. bug a friend to buy it so you can borrow hers.
   d. wait for the song and CD to get more radio time, to make sure you still like it before buying it.
    
2. You just found a $10 bill in a shoe in your closet. You'd forgotten about it! You ...
   a. use it to buy school supplies.
   b. stash it in your piggy bank.
   c. treat all your friends to ice cream.
   d. put it in your college fund.
    
3. You find a new style of jeans you really like, but they cost more than twice the price of your regular jeans. You ...
   a. refuse to buy them. You don't need new jeans at that price.
   b. wait a few weeks for a sale.
   c. look for the jeans in other stores or on the Web, to find them at a cheaper price.
   d. buy them on the spot. Good jeans are hard to find.
    
4. It's your birthday and you got several cash gifts. You ...
   a. immediately bank half and put the other half toward buying a new pair of in-line skates.
   b. put it all in a college fund.
   c. start feeding your face by buying a huge bag of candy.
   d. bank half of it and set the rest aside to start buying holiday gifts for friends and family even though it's only March.
    
5. Your friend's birthday is coming up; you ...
   a. chip in with other friends to give your friend a pizza party.
   b. make a scrap book or home video for your friend.
   c. spend your whole allowance on an expensive gift.
   d. take part of your allowance and buy your friend a creative and unique gift.
    
6. You've been saving up to buy something special - a motorized scooter, a cello, or a surfboard. When you're ready, you ...
   a. buy the most expensive one you can find. You deserve it.
   b. buy the cheapest one and give yourself a pat on the back for saving money.
   c. buy one that's well-made, safety-tested, and has all the features you want at a competitive price.
   d. talk to your friends to see if anyone is selling one secondhand. It may not be new, but it works and is in pretty good condition.
    
7. You find a charity that you like. You want to contribute, so you ...
   a. ask your parents for money to give to the charity.
   b. volunteer your time regularly at the charity or for special events.
   c. put the name of the charity in your future-donations file.
   d. take part in a fundraiser, like a "walk," and make a donation from your allowance.
    
8. A friend of a friend tells you about the latest mystery novel; you ...
   a. rush to the bookstore and buy it in hardcover.
   b. go to the library and take it out, or "request" it.
   c. order the book, plus four more books by the author.
   d. can wait until your friends finish the book. You're number four on the list.

Scoring
Add up your score. Here are the point values for each response.