Personal Finance Exam

Front

Which of the following is a reason that people donʹt save money?
they lack discipline,
they do not live on a budget,
they lack focus,
all of the above

Back

all of the above

Front

When it comes to saving money, the amount you save is determined by how much you have left at the end of the month once all of your spending is done.

Back

False

Front

The five steps to financial success.

Back

Five Foundations

Front

At your age, a fully funded emergency fund should be:

Back

$500

Front

Which of the following steps is the First Foundation? Get out of debt, build wealth and give, save a $500 emergency fund, pay cash for your car

Back

save a $500 emergency fund

Front

The first thing you should save for is your retirement fund.

Back

false

Front

Save a $500 emergency fund.

Back

The First Foundation

Front

What does it mean to have a negative savings rate?

Back

Spending more money than you make and acquiring debt.

Front

Which of these is not a key to saving money?
Focus,
Making saving a habit and a priority,
Your income,
Discipline

Back

Your income

Front

Interest paid on interest previously earned.

Back

Compound Interest