Allowance & Spending Plan Quiz
1. Spending plans are decisions about how you spend your allowance.
True False
2. A written spending plan is the best way to manage an allowance.
True False
3. Spending plans should be discussed with parents.
True False
4. Everyone has the same spending plan.
True False
5. My spending plan must remain the same for an entire year.
True False
6. Giving to a church or charity can be part of my spending plan.
True False
7. Changes can be made in my written spending plan:
Only once a week
Only once a month
Only every six months
As my need change
8. Savings provide money for:
Emergency expenses
Unplanned expenses next year
Expenses in five years
All of the above
9. A spending plan can be made by:
Keeping a diary of expenses
Asking a friend to make it for you
Unplanned expenses next year
Checking how much money is in your pocket
10. Which of the following is NOT a spending plan category
Transportation
Entertainment
Candy bars
Clothing
ALLOWANCE AND SPENDING PLAN QUIZ ANSWERS
- True
- True
- True
- False
- False
- True
- As my needs change
- All of the above
- Keeping a diary of expenses
- candy bars
