quizzes
QUIZ: Test
Your Family Finance IQ
The nursery is
painted. The crib is assembled. You're ready for parenthood, right?
Not necessarily. You'd be amazed how much financial preparation is
needed to raise a child. Take our quiz and find out how much you know
about the costs of raising the new member of your family.
The nursery is
painted. The crib is assembled. You're ready for parenthood, right?
Not necessarily. You'd be amazed how much financial preparation is
needed to raise a child. Take our quiz and find out how much you know
about the costs of raising the new member of your family.
1. The average middle-income family having a child today will spend
how much money raising that child through age 18?
$105,000
$135,000
$165,000
2. Even before your child arrives, you have spent/will spend how much
money on him?
$1,000 to $3,000
$3,000 to $5,000
$6,000 to $10,000
3. First-year expenses, such as baby furniture, clothes, diapers,
doctor's visits, and day care, will likely cost you:
$5,000 to $8,000
$8,000 to $10,000
$10,000 to $12,000
4. Having a child
will give you a new tax credit of approximately:
$800
$1300
$2500
5. True or false: Parents who use day care get an additional tax exemption:
True
False
6. Eighteen years from now, the average college education will cost:
$70,000 at a public university; $120,000 at a private university
$85,000 at a public university; $200,000 at a private university
$100,000 at a public university; $250,000 at a private university
7. To meet these
costs, you'd have to save how much money beginning at your child's
birth?
$115 a month for a public institution; $284 a month for a private
college
$215 a month for a public institution; $384 a month for a private
college
$315 a month for a public institution; $484 a month for a private
college
8. True or false: Parents today are paying proportionately more to
raise a child than they did back in 1960.
True
False
9. Which of the following do parents generally spend more on in the
process of raising a child:
Food
Health care
Clothing
10. Families
in which part of the country have the highest expenditures in raising
a child?
The Northeast
The South
The West
11. Having a second child will increase your child-rearing expenses
an average of:
50%
65%
100%
Your
should know:
The
information on this Web site is designed for educational purposes
only. It is not intended to be a substitute for informed medical
advice or care. You should not use this information to diagnose
or treat any health problems or illnesses without consulting your
pediatrician or family doctor. Please consult a doctor with any
questions or concerns you might have regarding your or your child's
condition.
Rebornne Baby. American Baby
