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Money Basics & Smart Saving

SheelonPersonal FinanceSocial StudiesEnglishGrades 6-8Published Aug 5, 2026

Needs versus wants, saving versus spending, and what a bank actually does with your money. First steps in financial literacy for young students.

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Questions in this quiz

All 12 shown. Answers not revealed.

  1. What is a budget?

    Multiple Choice · 20s

    AA spending and saving plan
    BA rare gold coin
    CA bank's vault
    DA shopping receipt

  2. What do we call the extra money a bank pays you for keeping your savings there?

    Multiple Choice · 20s

    ARent
    BTax
    CInterest
    DChange

  3. What is it called when the prices of most things rise over time?

    Multiple Choice · 20s

    ADonation
    BInflation
    CDeflation
    DSalary
  4. A debit card spends money you already have in your bank account.True / False · 20s
  5. Which of these is a NEED rather than a want?Multiple Choice · 20s
  6. What do we call the money a person earns from their job? (one word)Type Answer · 30s
  7. You buy a snack for 8 dollars and pay with a 10 dollar bill. How much change do you get?Multiple Choice · 20s
  8. Saving a small amount regularly can grow into a large amount over time.True / False · 20s
  9. What do we call the money citizens pay to the government to fund schools and roads?Multiple Choice · 20s
  10. What does a bank do with much of the money people deposit?Multiple Choice · 20s
  11. What is the habit of putting money aside for later called? (one word)Type Answer · 30s
  12. Which is the smartest FIRST step before buying something expensive?Multiple Choice · 20s

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