How Money Savvy Is My Child?

7 Questions

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Child Quizzes & Trivia

Find out how money savvy your child is with this Kids Money IQ Score Quiz.


Questions and Answers
  • 1. 
    What does your child do first whenever he or she earns money, either through their own efforts, an allowance or as a gift?
    • A. 

      My child divides their money up into different piggy banks/accounts before spending it: Saving, Investing, Donating, Spending, etc.

    • B. 

      My child saves most of his or her money, and spends only a little.

    • C. 

      My child spends most of his or her money but saves a little bit.

    • D. 

      My child spends all his or her money!

  • 2. 
    Does your child ask you for money?
    • A. 

      My child uses me like his or her very own personal ATM/bank machine!

    • B. 

      My child is not interested in money.

    • C. 

      Sometimes but he or she knows that I may say no.

    • D. 

      No, my child earns his or her own money.

  • 3. 
    Is your child saving his or her money for a special goal?
    • A. 

      My child saves a small amount towards his or her goals and spends the rest of it right away.

    • B. 

      Yes, my child is saving for a specific goal with the money he or she earns or receives!

    • C. 

      My child doesn't have any goals!

    • D. 

      My child often saves for a special goal, but then ends up spending their money before they reach their goal.

  • 4. 
    Does your child donate a part of his or her money to charity?
    • A. 

      Yes, my child sometimes donates his or her money to charity, but not on a regular basis.

    • B. 

      No my child doesn't donate any of his or her money to charity.

    • C. 

      Yes, my child has a special charity that he or she donates a small portion of his or her money to on a regular basis. He or she feels really great to be helping someone else!

    • D. 

      Yes, my child always donates to the toy and food drives at Christmas time.

  • 5. 
    When your child asks you to buy something and you don't have the money to pay for it, what does your child hear you say?
    • A. 

      "Okay, honey, now HOW can we afford that?" You ask your child to come up with a creative way to pay for it.

    • B. 

      "No we can't afford that!"

    • C. 

      "You know what darling, we CHOOSE not to afford that right now."

    • D. 

      "Sorry honey, I don't know how we can afford that."

  • 6. 
    Which of the following ways would your child usually choose to make their own money?
    • A. 

      My child would tell me his or her business idea and ask for my support (not financial) in getting it started.

    • B. 

      My child would ask me if he or she could do a job around the house to make some money.

    • C. 

      My child would create a business plan that included hiring friends and family to create leverage and passive income to make money.

    • D. 

      My child would ask her family and friends for the money.

  • 7. 
    What best describes your child's knowledge of things like: Compound Interest, Leverage, and Passive Income?
    • A. 

      My child understands all of these terms and knows how to make them work for him or her!

    • B. 

      My child has a basic understanding of some of these terms, but not all of them.

    • C. 

      My child has no clue about any of these terms.

    • D. 

      I have no clue about any of these terms!