Do you think you know more than a teenager about saving, budgeting and finance?

A test that hundreds of 16 to 19 years olds sat has shown Kiwi teens are good at identifying risks with money, but lack skills around budgeting and financial management.

The test was designed by high school teachers for an annual financial health-check undertaken by Massey University's Fin-Ed Centre.

The average score for budgeting, the area where teens performed the worst, was just 37 out of 100.

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The second worst area of financial knowledge was saving and investing where the average score was just 45 out of 100.

Pushpa Wood, director of the Fin-Ed Centre, rated young New Zealanders just a five out of 10 when it comes to budgeting and saving.

"Ideally it should be closer to seven or eight so they can have a good start to their adult life."

Wood said families needed to start talking about money and budgeting for "wants" from an early age.

"The sooner we can engage our children in money conversations and help them understand the importance of a savings plan for their future, the better prepared they will be to make good decisions."

Try to correctly answer a selection of the questions from the test to see if you can do better than the Kiwi students.

The students were averaging about 54 per cent, so if you get six or more correct you're doing better than a teenager when it comes to money knowledge.