ARE YOU READY FOR FINANCIAL FREEDOM OR FINANCE 101?
Print This Quiz and Find Out your results!

Now that you’re ready for college, are you also ready to manage your finances, or do you still need time to learn the basics? The First USA Financial Index revealed that 612,000 students heading to college this fall have already created their budget for the coming year. It’s time to see how financially fit you really are – sharpen your pencil and see what this $mart-Money Quiz* reveals about you:

1.	Do you know how to balance a checkbook?	Yes	No
2.	Can you name two types of savings vehicles, other than a savings account?	Yes	No
3.	Would you know how to stop payment on a check if you needed to?	Yes	No
4.	Do you know what interest rate is charged on the unpaid balance of your credit card or on one of your parents’ credit cards?	Yes	No
5.	Have you been saving 10 to 25 percent of all money that you receive from parents, gifts and outside jobs?	Yes	No
6.	Do you have money left over at the end of your pay period, either weekly or monthly, after all of your expenses have been paid?	Yes	No
7.	Do you know whom to call if you lose a checkbook or credit card?	Yes	No
8.	Do you know how to use an ATM card?	Yes	No
9.	Could you make up a livable spending plan for yourself without your parents’ assistance?	Yes	No
10.	Do you know what penalty or penalties are assessed when you make a late payment on a credit card?	Yes	No
11.	Do you know what a credit report is and how to get a copy of yours?	Yes	No
12.	Do you think before you buy?	Yes	No

*Adapted from $mart-Money Moves for Kids, written by Dr. Judith Briles

It’s time to tally your score – give yourself 1 point for every “yes” answer.

If you scored:

10 – 12 points: Pack your bags…you’re ready for financial freedom!

6 – 9 points: On your way…with a little more research you’ll be ready to take your finances by storm…you’ll even have enough money to pay for that late-night pizza!

0 – 5 points: Enroll now…you’re headed for Finance 101. Take some time to learn the basics of checkbook balancing as well as credit card and interest rates. With a little practice, you’ll be on your way to financial independence before long!

First USA realizes the importance of educating students about the principles of money management. As part of its outreach campaign, First USA has joined forces with popular university-bound high school grads Chris Barrett and Luke McCabe, known to millions as Chris and Luke, the "first corporately sponsored college students." As "student ambassadors" for First USA, Chris and Luke will help spread the word about financial responsibility. First USA's free informative brochure and CD-ROM (available by e-mailing studentcreditinfo@firstusa.com) provide a range of practical financial tools for students. First USA's Student Advisory Board, launching this fall, will give college students across America the opportunity to speak for their peers as they share their thoughts on financial issues. Also coming this fall, the First USA online reference site will give students an opportunity to learn more about money management.