Kick-start Your Saving Habit!

Which of the followings is the benefit(s) of saving?

• Financial back-up

• Preparation for retirement

• Be financially independent

• All of the above

Which of the following pairs of needs and wants is correct?

• Needs - Desires for goods and services

  Wants - Things we must have to survive

• Needs - Luxury goods

  Wants - Necessity goods

• Needs - Things we must have to survive

  Wants - Desires for good and services

• Needs - Additional things in daily life

  Wants - Basic things in daily life

Which of the following definitions is the most correct statement about savings?

• Savings is defined as what is remaining after their current needs and wants have been satisfied.

• Savings is defined as the portion of income not spent on current expenditures.

• Savings is defined as the extra money that is used to buy luxury goods.

• Savings is defined as the amount of money we keep in the bank.

The following options are the recommended way to track your money, EXCEPT :

• Download a highly rated finance app.

• Record the expenses of weekdays only.

• Create a budget and make a list in a notebook or spreadsheet.

• Set a budget in the beginning of every month.

The medical fees, school uniform, and rent are all refer to our _______.

• Complex

• Needs

• Wants

• None of the above

The best way to purchase a dream car or house, you will need

• Gambling

• Saving

• Dreaming

• None of the above

Which of the followings is the benefit of having a junior saving account?

I High returns

II Better money management

III Able to withdraw money at any time

IV Save for retirement

• I & II

• I & IV

• II, III & IV

• All of the above

Every week, James has pocket money of RM30, so he decided to save 20% of his pocket money in his piggy bank. Which of the following is the most recommended amount for James to save monthly? (assume there is 4 weeks in a month)

• RM 6

• RM 12

• RM 18

• RM 24

Which of the following is the requirement of a junior saving account?

• 18 years old and above

• Below 21 years old

• Below 18 years old

• No age restriction

Which of the following is the method to cultivate saving habits among students?

• Impulsive buying

• Do investment

• Get a part time job

• Start big