Global Money Week 2024

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Are you Money Ready?

Put your money knowledge, skills and experience to the test with our money readiness quiz, because we believe the best way to protect your money and secure your future is to be Money Ready!

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Are you Money Ready?

Are you Money Ready? What's your money management style? Put your money knowledge and skills to the test to find out.

1. First up, in your opinion, what does it mean to be “money ready”? There’s no right or wrong answer.

2. How confident do you feel managing your money? There’s no right or wrong answer.

3. Imagine, you’ve just turned 21 and you’re working in a cafe on the national minimum wage. What do you think your wage will be?

4. How often do you check the balance of your current account?

5. Yay! You’ve just been paid, but what does it all mean? How much will you actually receive in your bank account this month?

Payslip showing Total Year to Date figures for Total Gross Pay = £5625, Total Income Tax = £496.50, Total Employee NIC = £248.25 and Total Employer NIC = £423.48. Then showing underneath that Net Pay = £1626.75.

6. Can you spot which of these is a fake banking term?

7. Which of these financial products have you used to save money? Tick all that apply.

8. Which of these following won’t improve your credit score*?

*Your credit score is important when it comes to borrowing money. A credit score is a prediction of how likely you are to pay back on time money borrowed. A better credit score will generally qualify you for better borrowing terms, such as lower interest charged or allowing you to borrow a higher amount.

9. The screen broke on your phone. It would take you ages to save up £450 for a new one... or you could buy one on contract.

Looking at this contract deal, how much would you end up paying for the phone itself? (The usage plan will cost the same either way.)

Ad for a 24 month phone contract that costs £35 monthly, which is broken down into £25 for the device and £10 for the usage plan.

10. If you were living in student accommodation as a student in your first year of university, looking at the list below, which three would you buy first? There’s no right or wrong answer.

11. What is your favourite way to track your budget?

12. You saw these trainers you really want. You found the same pair being sold on two different websites. Which one of these sites offers the better deal?

13. If you think you’ve been a victim of a scam, who would you contact first?

There’s more than one right answer, so it’s about what you would do.

14. Out of these options, where’s the first place you go to get answers to your money questions?

15. Which one of these emails is a scam?

16. It’s important to use strong passwords to protect your identity and money. It would take a computer about 1 min to crack the password: Mario125. How long would it take a computer to crack the password: SuperMario'125?

17. As a charity that provides free financial education to young people, we want to know if there are common needs for different age groups.
What age range do you fall into?

18. Lastly, how useful have you found it to reflect on your “money readiness”?

Your score is

The average score is 48%

0%

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Global Money Week 2024

18-24 March 2024

Protect your money, secure your future

The theme for Global Money Week 2024 is ‘Protect your money, secure your future’. We believe the best way to do this is to improve your finance skills, your “money readiness”.

What's your money management style?

Based on your answers to our money readiness quiz, which persona would best describe your money management style? Whichever fits best, we have recommended articles to share with you to help boost your money readiness. 

Super Tracker

Big Spender

Optimistic Saver

Contemporary Consumer

Cool Money Manager

More about our quiz

Designed especially for young people, we have lots of ways you can learn about money and boost your financial fitness. Have a finance question you need an answer to? Sign up to our monthly video courses or ask our AI-powered MoneyBot.

How is our quiz scored? All of the question with a right or wrong answer will gain you a point if you answer correctly. We provide answers and explanations as you go, so you can learn something new along the way. In addition, we link your answers to one of five money management styles that we reveal at the end.

In future, we hope to develop this quiz further to provide personalised online learning modules, so watch this space!

All of the questions included in our quiz were carefully chosen to ensure we cover seven important financial education topics: banking, borrowing, budgeting, earning, spending, saving, and staying safe. Not only that, but we also believe it’s important everyone develops their money knowledge and skills,  as well as being able to share their views and experiences.

We’d love for as many young people as possible to get involved, sign up and start to boost their money readiness. Why not share this page with your students on your website, via email or in a class/tutor group? Sign yourself up too and we’ll send regular updates including findings from our quiz.

If you have any questions about our money readiness quiz, please contact moneyready@mybnk.org and the Money Ready team at MyBnk will be in touch.

More ways to get Money Ready

Designed especially for young people, we have lots of ways you can learn about money and boost your financial fitness. Have a finance question you need an answer to? Sign up to our monthly video courses or ask our AI-powered MoneyBot.

Search our full knowledge base

Beyond the articles we have recommended, we have a growing library of trusted top tips covering budgeting, borrowing, earning, spending and saving.

Read more...

Ask our AI-powered MoneyBot

Our AI chatbot is trained on our content and can give you instant answers to your questions based on our trainers’ expert knowledge.

Ask MoneyBot

Find out about our in-person programmes

MyBnk offers a wide range of in-person financial education programmes for young people aged 5 – 25.

Find out more...
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