Money Responsibility
We all want to be trusted to make the right decision and be given more responsibility. Being smart about your money
is one way to earn that trust. You’ve learned all about making S.M.A.R.T. goals, but do you know how to make good
choices about your money? It all comes down to how responsible you can be.
Deciding if you should buy something is a big part of making a responsible decision. Is it a good price? Do I have
enough money for it? Do I need it or just want it? These are a couple of questions you need to ask yourself before
deciding to buy something.
I know what. I need to figure out how.
You’ve got it figured out when it comes to deciding whether or not to buy something, but deciding how to pay for it is
another big decision. You can pay with cash, use a debit card, or a credit card.
Cash can be easy. If you have it, you can spend it. You can’t spend more than what’s in your pocket. You just
need to make sure, you still have money in your pocket to buy anything else you need.
Debit Cards can be a bit trickier. They’re part of your checking account and you use a PIN (personal
identification number) to use it. It can be easy to spend money you don’t have, and that can cost you. Just
because you can’t see the money leaving your account, doesn’t mean it’s still there. If you use your debit card
and spend more money than you have available, you can get charged a lot of fees. But, if you keep track of your
spending (say, use a checkbook register) you can avoid paying extra money.
Credit Cards are the trickiest of all. Cash and debit cards are more of a “pay now” way of doing things. You
use the money you have right now to buy something. Credit cards are different. You’re buying something now
and “paying later”. Being responsible with credit cards is about not spending so much that you can’t afford to
pay the bill later and making sure you pay it on time.
No matter how you decide to pay for something, it’s important to keep track of it. You don’t want to spend too much
or lose it.
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Money Responsibility
How responsible can you be with your money? Using everything you’ve learned. Figure out what what the best choice
would be for each of the stories below.
I just made $5 walking the dog next
door. Should I save some of it or buy a
new video game?
I really want a new skateboard,
I got $50 for my birthday.
How do I decide how to spend it?
but I don't have the money for it.
What can I do?
I only have $2 to spend
I know I like working with kids
and teaching people how to do
things. What kind of career
can I choose?
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and I'm thirsty and hungry.
Should I spend $1 on bottle
of water and $1 on aapple or
should I spend $2 on a pop?
Money Responsibility
You know all about making the right choice on how to pay for things. Can you figure out how the people below made
their purches? Did they use a debit card or a credit card?
• Your grandma takes you out for pizza for your birthday. She pays with a card and money for the bill comes out of
her checking account.
• You go to the dentist and your mom pays with a card. The payment comes out of her checking account.
• Your dog has to go to the vet for his rabies vaccination. Your mom pays with a card. The cost of the visit shows
up on her monthly bill.
• You made the softball team. YEAH!! Dad takes you to buy a uniform. He pays for the purchase with a card, enters
his PIN and gets $20 in cash back from his checking account.
• Your mom goes to the ATM at the bank, uses her PIN and withdraws $300 from her checking account with her
card.
• Your dad goes to the gas station, fills up the car with gas and pays with his card. The price of the gas shows up
on a bill he gets at the end of the month.
• You and your family are at the circus. Your dad buys a big stuffed elephant as a souvenir and pays for it with a
card. The money comes out of his checking account.
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