Money Matters: Learn about Money for Kids

Question 1

What is a good reason to save money?

Accepted Answer

To buy things you want later on.

Answer

To have more money to spend right now.

Answer

Because it's fun to count your money.

Answer

Because your parents told you to.

Question 2

What's the smart way to keep your money safe?

Accepted Answer

Put it in a piggy bank or savings account.

Answer

Spend it all right away.

Answer

Give it to your friends.

Question 3

How do we usually get money?

Accepted Answer

By working

Answer

By finding it

Answer

By getting it from our parents

Answer

By winning a game

Question 4

You have £5. You can buy a new game or save up to buy a bike that costs £20. What would you do?

Accepted Answer

Save up to buy the bike.

Answer

Buy the new game.

Question 5

Before we spend our money, what's the first thing we should do?

Accepted Answer

Think about what we need the most

Answer

Spend it all on things we want now

Answer

Ask our friends what they would do

Answer

Buy things that make us happy

Question 6

Why might some people feel sad if they don't have enough money?

Accepted Answer

They can't buy things they want.

Answer

Others make them feel bad.

Answer

They don't know how to use money well.

Question 7

What's the difference between something we need and something we want?

Accepted Answer

Needs are things we must have to stay healthy and happy, like food, clothes, and a home. Wants are things we would like to have, but we don't need them to survive.

Answer

Needs are things we buy at the grocery store, and wants are things we buy at the toy store

Answer

Needs are things we buy with cash, and wants are things we buy with a credit card

Answer

Needs are things we buy for ourselves, and wants are things we buy for others

Question 8

You get £5 every week. How can you plan your spending so you have enough money for the things you need and want?

Accepted Answer

Write a list of what you need and want to buy, and decide how much money to use for each thing.

Answer

Spend all your money on sweets and toys now.

Answer

Save all your money to buy a special toy later.

Answer

Ask your parents for more money if you run out.

Question 9

What can we buy with money?

Accepted Answer

Things we need and want

Answer

People

Answer

Time

Question 10

You have £10. You want to buy a new toy that costs £5, but you also need to buy food for your family. What should you do first?

Accepted Answer

Buy the food first, then see if you have enough money left for the toy.

Answer

Buy the toy first, then use the remaining money for food.

Question 11

You have £5 to spend on treats. How can you make a plan to spend your money wisely and not spend more than you have?

Accepted Answer

Buy a small bag of fruit, a small bag of sweets, and save the rest of the money.

Answer

Buy a large bag of sweets and a new toy.

Answer

Buy a large bag of crisps and spend the rest on drinks.

Answer

Save all the money for next week.

Question 12

How can people earn money?

Accepted Answer

Working at a store

Accepted Answer

Selling things they make

Accepted Answer

Helping people with tasks

Answer

Finding money on the ground

Question 13

When we have enough money to buy things we want or need, how do we feel?

Accepted Answer

Happy

Answer

Sad

Answer

Scared

Question 14

You have some money to spend. What's the best way to decide whether to buy something you want now or save your money for something you might need or want later?

Accepted Answer

Plan how you're going to spend your money, so you can buy things you want now and save for what you want later.

Answer

Buy what you want now, because you might not have the money to buy it later.

Answer

Save all your money and never spend it, so you'll have lots of money in the future.

Answer

Ask your parents to buy you everything you want, so you don't have to worry about money.

Question 15

What else can we do with money besides buying things at a store?

Accepted Answer

Give money to someone who needs it

Accepted Answer

Save money for something special

Answer

Play games on our phones or computers

Answer

Feed our pets

Question 16

When you put your money in a bank, sometimes the bank gives you a little extra money called interest. Why do you think banks do this?

Accepted Answer

To help you save more money.

Answer

To make more money for the bank.

Answer

To punish people for spending their money.

Answer

To keep your money safe.

Question 17

What could happen if you spend all your money on toys and sweets without thinking about the future?

Accepted Answer

You might not have enough money to buy things you need, like new shoes or food.

Answer

You might get more pocket money from your parents.

Answer

You might become very rich.

Answer

Nothing will happen.

Question 18

Which is NOT a good way to save money?

Accepted Answer

Spending it right away

Answer

Putting it in a piggy bank

Answer

Opening a savings account

Answer

Asking your grown-up to keep it safe

Question 19

If you have 10 pence and spend 5 pence, how much money do you have left?

Accepted Answer

5 pence

Answer

10 pence

Question 20

How much is a £1 coin worth?

Accepted Answer

100 pence

Answer

50 pence

Answer

25 pence

Question 21

Which is NOT a way to compare prices?

Accepted Answer

Guessing which one is cheaper

Answer

Looking at the price tags

Answer

Asking for help

Answer

Reading reviews online

Question 22

Which of these is not a coin we use in the UK?

Accepted Answer

€1

Answer

50p

Answer

£1

Answer

5p

Question 23

How much money is 10p and 5p together?

Accepted Answer

15p

Answer

5p

Answer

10p

Answer

25p

Question 24

Whose face is on the £1 coin?

Accepted Answer

Queen Elizabeth II

Answer

King Charles III

Answer

Winston Churchill

Answer

David Beckham

Question 25

Which of these is a good way to save money?

Accepted Answer

Putting it in a piggy bank

Answer

Spending it all

Answer

Giving it to friends

Answer

Throwing it away

Question 26

Which is not a sensible way to spend money?

Accepted Answer

Spending everything you have

Answer

Buying things you need

Answer

Saving for the future

Answer

Buying things that make you happy

Question 27

What is the value of the following notes: £5 and £10?

Accepted Answer

£15

Answer

£5

Answer

£10

Answer

£20

Question 28

What is the difference between a coin and a note?

Accepted Answer

Coins are made of metal and notes are made of paper

Answer

They are the same

Answer

Notes are more valuable than coins

Answer

Coins are smaller than notes

Question 29

What do we use to get things we want?

Accepted Answer

Money

Answer

Food

Answer

Toys

Answer

Friends

Question 30

Which of these helps us get money?

Accepted Answer

Helping at home

Answer

Playing games

Answer

Eating vegetables

Answer

Watching TV

Question 31

What do we do when we keep some money for later?

Accepted Answer

Saving

Answer

Spending

Answer

Borrowing

Answer

Investing

Question 32

Which of these is not a good way to use our money?

Accepted Answer

Gambling

Answer

Buying food

Answer

Going to the cinema

Answer

Giving to people in need

Question 33

Which is the smallest coin we have?

Accepted Answer

1 penny

Answer

2 pence

Answer

5 pence

Answer

10 pence

Question 34

How much is 50 pence worth?

Accepted Answer

50 pence

Answer

5 pounds

Answer

50 pounds

Answer

50 shillings

Question 35

How can we know the value of different coins?

Accepted Answer

Reading the numbers on them

Answer

Looking at their size

Answer

Feeling their weight

Answer

Counting their edges

Question 36

What do we call the paper money we use?

Accepted Answer

Pounds

Answer

Dollars

Answer

Euros

Answer

Yen

Question 37

Which is the biggest note we have?

Accepted Answer

£50

Answer

£5

Answer

£10

Answer

£20

Question 38

Which of these is a coin?

Accepted Answer

Penny

Answer

Dollar

Answer

Euro

Answer

Pound

Question 39

How much is a 50p coin worth?

Accepted Answer

50p

Answer

5p

Answer

10p

Answer

25p

Question 40

What do we call the money we put away for later?

Accepted Answer

Savings

Answer

Earnings

Answer

Expenses

Answer

Income

Question 41

What is budgeting?

Accepted Answer

Planning how to spend money wisely

Answer

Saving all your money

Answer

Borrowing money

Answer

Donating money

Question 42

Which of these is a good way to spend money?

Accepted Answer

Saving first and then spending

Answer

Buying everything you want right now

Answer

Borrowing money to spend

Answer

Spending all your money at once

Question 43

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

Accepted Answer

Save up for it

Answer

Borrow it from a friend

Answer

Ask your parents for more

Answer

Take it without asking

Question 44

Which of these can you buy with money?

Accepted Answer

A new toy

Answer

A warm hug

Answer

A best friend

Answer

A happy smile

Question 45

What do we call the coins and notes that we use to buy things?

Accepted Answer

Money

Answer

Fun money

Answer

Paycheck

Answer

Change

Question 46

Before you borrow money, what's the most important thing to know?

Accepted Answer

How much it will cost

Answer

How long you can borrow it for

Answer

Why you need it

Question 47

What is the best way to spend money?

Accepted Answer

Saving some and spending some

Answer

Buying everything you want

Answer

Giving it all away

Answer

Not spending any of it

Question 48

What do we use to buy things in shops?

Accepted Answer

Money

Answer

Time

Answer

Love

Answer

Hugs.

Question 49

Which coin is worth more, 1 pence or 10 pence?

Accepted Answer

10 pence

Answer

1 penny

Answer

Both the same

Answer

Neither

Question 50

What do we call it when we keep money safely for later?

Accepted Answer

Saving

Answer

Spending

Answer

Borrowing

Answer

Trading

Question 51

How do we usually earn money?

Accepted Answer

Working

Answer

Asking for it

Answer

Finding it

Answer

Taking it

Question 52

Which of these is NOT a way to spend money?

Accepted Answer

Keeping it safely

Answer

Buying food

Answer

Going to the cinema

Answer

Giving it to charity

Question 53

What is the smallest coin in the United Kingdom?

Accepted Answer

1 pence

Answer

2 pence

Answer

5 pence

Answer

10 pence

Question 54

What is a debit card used for?

Accepted Answer

To pay for things without cash

Answer

To withdraw money

Answer

To save money

Answer

To earn money

Question 55

What do we use to buy things?

Accepted Answer

Money

Answer

Food

Answer

Toys

Answer

Clothes

Question 56

Which coin is worth the most?

Accepted Answer

10p

Answer

1p

Answer

2p

Answer

5p

Question 57

Which note is worth the least?

Accepted Answer

£5

Answer

£10

Answer

£20

Answer

£50

Question 58

What's a good way to save money?

Accepted Answer

Putting it in a piggy bank

Answer

Spending it all at once

Answer

Giving it to your friends

Answer

Hiding it under your bed

Question 59

What does it mean to be financially responsible?

Accepted Answer

Saving money for the future

Answer

Spending all your money right away

Answer

Borrowing money without being able to pay it back

Answer

Buying things you don't need

Question 60

What can you use to buy things?

Accepted Answer

Money

Answer

Food

Answer

Toys

Question 61

Which of these is the most expensive?

Accepted Answer

A car

Answer

An apple

Answer

A pencil

Question 62

What do you call it when you keep money for the future?

Accepted Answer

Saving

Answer

Spending

Answer

Earning

Question 63

Which of these is a way to earn money?

Accepted Answer

Helping around the house

Answer

Playing with friends

Answer

Watching TV

Question 64

What is the difference between a coin and a note?

Accepted Answer

Coins are made of metal, notes are made of paper

Answer

Notes are made of metal, coins are made of paper

Answer

They are both the same