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Is My Kid Smart about Money?
It’s important to understand what your kids know (or don’t know) about money before you try to teach them money management skills.
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Please answer the question(s) marked in red.
1) If his iPod broke, my teen would:
Expect me to buy a new one immediately
Take money from a savings account to buy a new one
Put "New iPod" at the top of a birthday or holiday list
2) As far as a budget is concerned, my teen:
Has no idea what a budget is
Has a budget, but isn’t very good at sticking to it
Sticks to a budget consistently
3) When my teen receives an unexpected bonus (birthday money, lawn mowing money), he:
Buys something because “all the other kids have one”
Puts half in the bank and spends the other half right away
Puts all or most of it in a savings account
4) When my teen has a chance to make money, she:
Says no right away
Says maybe and then checks with friends to see if they are doing something fun
Says yes right away
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