Directions: Family members should answer these questions separately, then compare answers. The similarities and differences can spark a discussion of family money attitudes and practices.
1. If you received $1,500 tax-free, what would you do with it? If you would use it for multiple purposes, specify how much you would allot for each purpose.
2. Rank the following activities.
- an evening at home with the family
- a night on the town
- involvement in physical activity
- time with friends
- some quiet time to myself
3. Do you agree or disagree with the following statements?
- I’m basically too tight with money.
- My spouse (or parents) is basically too tight with money.
- Equality in family decision making is important to me.
- I feel good about the way financial decisions are made in my family.
- Sometimes I buy things I don’t need just because they are on sale.
- I believe in enjoying today and letting tomorrow worry about itself.
4. If you had to make a major cut in your current spending, what would you cut first?
5. I’d like to see us spend less money on__________ and see more money go for _________________.
6. What money problem is the most frequent cause of argument?
7. What was the most sensible financial thing you have done in your family? What was the most foolish financial thing you have done in your family?
8. Can you answer the following questions?
- What is your family's weekly take-home income?
- What is your monthly rent or mortgage payment?
- How much money do you spend on food each month?
9. Finish this sentence: Buying on credit is _______________.
Source: Money In Your Pocket, University of Georgia, Cooperative Extension Service BUC$, Cornell Cooperative Extension.