Teach money skills with small choices and visible goals: test your skills
Save, spend and give jars for young children; real decisions and real accounts for teenagers. Answer each question to see the explanation; your score appears at the end.
This test checks that you can
- Match money lessons to a child’s age
- Use real choices and small mistakes
- Explain decisions out loud
- Practice
1. A good first tool for young children is…
- Practice
2. Why let children make small money mistakes?
- Practice
3. Before a teen gets a credit card they should learn…
- Key idea
4. Which statement best explains "Small mistakes teach cheaply"?
- Key idea
5. Which statement best explains "Visible goals motivate"?
- Key idea
6. Which statement best explains "Children copy what they see"?
- Action plan
7. In the action plan, which step comes first?
- Mistake to avoid
8. Which of these is a mistake this lesson warns against?
- Mistake to avoid
9. Which of these is a mistake this lesson warns against?
A child saves $3 a week toward a $36 game. How many weeks?
Show the answer
12 weeks
$36 ÷ $3 = 12.
Ask a child in your life what they would save for, and how many weeks it would take.
More tests in this bootcamp
- Compare term and whole life insurance by the need
- Understand how disability insurance protects income
- See where umbrella liability insurance fits
- Understand what a will and living trust each do
- Choose who can act with powers of attorney
- Plan college savings with a 529 account
- Teach money skills with small choices and visible goals
- Final exam: Protection and estate planning