So, how much do you think you know about Managing Money? Do you think you've got what it takes to try our quiz?

Click here to begin...

A budget can be more rewarding and easier to stick to when you have… what?

A - An obsession with saving every penny.

B - An achievable goal to aim towards.

C - A habit of splurging your cash on beer and take away foods.

Sorry,
That answer is incorrect. Maybe you should check out this section of the site for more information.

B - An achievable goal to aim towards is the correct answer.
Everyone can stick to a budget, not just the money obsessed, but first you need to define some achievable goals. Goals will help you stay on the right track, and give you something to focus on the next time you want to splurge.

Next question…

Money Management means…

A - No fun. Saving every cent and not going out.

B - Saving what's left over after spending.

C - Understanding where your money is going, and creating a plan for it.

Sorry,
That answer is incorrect. Maybe you should check out this section of the site for more information.

C - Understanding where your money is going, and creating a plan for it is the correct answer.
No one can properly manage their money until they understand why it is disappearing in the first place. If bad spending habits are recognised, then we can do something about replacing them with good saving habits.

Next question...

C. YES,
You're right! Money Management does mean understanding where your money is going and making a plan for it..

Next question…

What is important to do when buying a Smart Card?

A - Find out what terms and conditions apply.

B - Ask which shops let you use them.

C - Bringing appropriate ID.

D - All of the above.

Sorry,
That answer is incorrect. Maybe you should check out this section of the site for more information.

D - All of the above.
When buying a Smart Card remember to find out if there are any terms or conditions, and which shops in your area accept them. And don't forget to bring your ID!

Next question...

What is the difference between a Credit Card and a Debit Card?

A - You can't get into debt with a Debit Card because you only spend the money you have, while a Credit Card lets you borrow money on which you might have to pay interest.

B - A Debit Card has an unlimited credit on it and the interest rates are huge, while a Credit Card has a set limit with small interest charges.

C - Debit Cards can't be used to pay bills over the phone or purchase products on the Net, while Credit Cards can.

Sorry,
That answer is incorrect. Maybe you should check out this section of the site for more information.

A - You can't get into debt with a Debit Card because you only spend the money you have, while a Credit Card lets you borrow money on which you might have to pay interest.

Next question...

Sorry,
That answer is incorrect. Maybe you should check out this section of the site for more information.

B - If you don't have enough ready cash to buy something, you can pay it off over a few weeks and then take it home, and aren't charged interest.
Lay-bys are a great way to buy something that you want, but can't afford right at that moment. It also means you don't miss out. How many times have you gone back to a shop when you do have the money and they have sold out of what you wanted?

Next question...

Lay-bys are good because:

A - You get to take home what you want, and slowly pay it off over a couple of months.

B - If you don't have enough ready cash to buy something, you can pay it off over a few weeks and then take it home, and aren't charged interest.

C - They are like a trial period. If you change your mind about the item, you can take it back as long as you haven't finished paying it off.

Electronic Banking is…

A - Making a transaction over the Internet.

B - Using the phone to pay a bill or transfer money.

C - Withdrawing money from an ATM.

D - Both A and B.

E - All of the above.

Sorry,
That answer is incorrect. Maybe you should check out this section of the site for more information on Electronic Banking.

E - All of the above. Electronic Banking is more then just making a transaction over the Internet. Most of our banking can be classified as 'electronic'. Telephone banking and using an ATM is also electronic banking.

Next question...

D. YES,
You're right! All of those things are very important to do when electronic banking.

That's the end of the quiz! How did you go?

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Important things to remember when Electronic Banking:

A - Change your password often.

B - Do not choose a password which is easy for another to guess - eg; dogs name.

C - Check your statements and balance often to make sure you haven't been charged incorrectly.

D - All of the above.

Sorry,
That answer is incorrect. Maybe you should check out this section of the site for more information on Electronic Banking.

E - All of the above. Pick a password that no one else could guess, change it often and check your statements. Just because it is done electronically doesn't mean mistakes aren't made.

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