Have You Taken this Quiz yet?
The “How Money Savvy is My Child?” Quiz will help you with knowing where your child is currently at with regards to their financial IQ – their understanding of money. Of the 7 FREE Gifts to Teaching Children About Money…
…You need to figure that part out first!
So take the Quiz!
Which then helps you know what your next step is for raising a money savvy kid or teen!
Now that you’ve taken the quiz let’s take a look at the questions … and more importantly what your child’s answers mean!
(If you have not yet taken the quiz…then stop reading and go do that first!)
The quiz designed to take all of your answers into account and then give you the answer that makes the most sense for your child.
Now let’s go through the quiz questions and results that your child may have had:
Question 1 / 7
“What does your child do first whenever he or she earns money, either through their own efforts, an allowance or as a gift?”
This question helps us to better understand how your child values money they receive or earn and also helps to determine how in control they are of their money…or if they let their money control them!
Question 2 / 7
“Does your child ask you for money?”
This question also helps us to better determine if your child values money or not, but also shows us how creative your child is or isn’t when it comes to getting what they want!
Question 3 / 7
“Is your child saving his or her money for a special goal?”
This question will help us better understand how well he or she is able to handle and appreciate delayed gratification…or end up in constant debt!
Question 4 / 7
“Does your child donate a part of his or her money to charity?”
We want our kids to have a Healthy Wealth Mentality. Not to be another Ebeneezer Scrooge, afraid they’ll lose all their money and keep it locked up tight. We want to raise an abundance mindset, one that will always know there is financial abundance in our world and that it’s as much about helping ourselves as it is helping others when it comes to charity. We get so much more out of the giving than the receiving…that is an important life lesson. This question will help you determine how healthy your child’s wealth mentality is.
Question 5 / 7
“When your child asks you to buy something and you don’t have the money to pay for it, what does your child hear you say?”
How we answer our children when they want us to buy them something can have very bad life consequences. This is not about always buying what they want for them, this is about how we answer them so that we get them thinking of creative ways to make their goal happen!
Instead of saying, “We can’t afford that.” (Which only teaches them that they are not worthy of fun things, only those with money are worthy.)…
…try saying, “Well, how can YOU make some money so you can buy it yourself?”
Turn the tables and get them looking for solutions rather than accepting scarcity and a lack of abundance. Again, this is about building a strong Healthy Wealth Mentality and this question will help you better understand where your child’s mind is at in this regard as well as let you know clearly if you have a possible problem ‘Entitlement’ child on your hands!
Question 6 / 7
“Which of the following ways would your child usually choose to make their own money?”
This question really helps you to see how creative your child is when it comes to making their own money. Do they look to find ways to make their own money or do they look to begging for money from others? This says A LOT about their financial future!
Question 7 / 7
“What best describes your child’s knowledge of things like: Compound Interest, Leverage, and Passive Income?”
Ultimately what this question will determine is how truly money savvy your child is! Do they know how to be a master of their money? How to make it work hard for them and enjoy a life of financial freedom, doing the things they love doing with those they love? Or will they spend the rest of their lives always having to work hard for money just to pay the bills!
Okay, so those are the questions that you had to answer when you took the quiz but what final answer did you get for your child?
Is your child a Wealth Master, Money Savvy Deficient, Fairly Money Savvy or Not Quite Money Savvy Yet?
Let’s go over each and see what your results really mean.
If your child did not do too well on the quiz, you may have gotten one of the following quiz results…
“Not Quite Money Savvy Yet” or “Money Savvy Deficient”
Your child is not quite money savvy yet but don’t fear there’s still hope. He or she has a basic understanding of money and how it works but has not yet learned how to master his or her money. Which means that there is a very good chance your child will struggle financially for most of their life unless you act now to change that and teach your child about money so they can become a master of it. Teach them how to make their money work hard for them instead! You now have 7 FREE tools to make that happen! Make sure you use them!
Please know that you are NOT alone here! MOST of the parents who take the quiz end up with this result the first time round. You see the key is to take the quiz before you start teaching your child about money, again while your child is learning about how money works and then again once they’ve reached some of their first goals! You will be so happy with the changes that you will see!
The parents who take action do make a long-lasting positive difference to their child’s financial futures…and even to their own!
I have received numerous emails from parents thanking me for not only teaching child how to be a master of their money but how the lessons helped them in their own lives too!
You see most parents start off with one of the above quiz results but these results change into the ones listed below…very few ever start here!
“Fairly Money Savvy or Wealth Master!”
Your child understands how to make their money work hard for them so they won’t always have to work hard for their money just to pay the bills. Your child knows how to save, invest, give to charity, and spend smart too. Your child has a positive Healthy Wealth Mentality.
He or she has the ability to make things like the Law of Attraction work for him or her. Your child will do well financially because they have an abundant and creative mindset, a pride of ownership and appreciation for the joy of delayed gratification while knowing how to indulge in instant gratification too! He or she will look for sound money opportunities and act on them whenever possible, while making our world a better place. Great job!
No matter whether your child is a money master or far from one as of yet, make sure you go through all of the 7 Free Tools to Teaching Children About Money so you and your child can be a true master all of their future financial decisions. Raise your child’s Financial IQ with these FREE tools:
- “How Money Savvy Is My Child?” Quiz
- “Goal-Setting For Families” workbook
- “Allowance Secrets: To Give or Not to Give an Allowance?” ebook
- “50 Money Making Ideas for Kids and Teens” ebook
- “The 6 Magical Piggy Banks” Cartoon
- “The 6 Magical Piggy Banks Money Management System” video
- 2 “Mindmovies for Kids and Teens” videos
Click here to get your 7 FREE Tools To Teaching Children About Money if you haven’t already.
Help me raise more financially savvy kids and teens, if you enjoyed this article, please let me know. Post a comment below and then share it with your friends. The more kids and teens we empower with a Healthy Wealth Mentality the better, more peaceful and abundant all of our lives will be.
Thank-you for sharing and caring.
Cheers…Amanda van der Gulik…Excited Life Enthusiast! ;o)
P.S. If you haven’t already done so, make sure you take the free “How Money Savvy Is My Child?” quiz. Click here to access the quiz as well as the rest of your 7 FREE Tools for Teaching Children About Money.
P. P. S. Did you find this article helpful? If so, then please help me empower more kids, teens and their families by leaving me your own comments below and clicking the ‘like’ button and ‘sharing’ it with your friends on Facebook, Twitter, Snapchat, Instagram, Pinterest, etc. Thank-you for helping me empower more Healthy Wealth Mentality kiddos. We need them! 😀
“Together we can raise kids and teens who are money savvy and get to follow their dreams because they know how to handle and value their money…and not come back crawling home to mom and dad to get them out of financial trouble!”