The Latte Factor

What does TFSA stand for?

• True Fresh Savings Account

• Timed Financial Savings Account

• Total Fixed Statistics Account

• Tax Free Savings Account

What are the three myths of money according to the Latte Factor?

• 1. Making more money will make you rich.

  2. You need to invest 80% of what you make to become rich.

  3. The government will not support those who have no money.

• 1. Invest when you can.

  2. Only you can manage your money.

  3. Cars are expensive.

• 1. Making more money will make you rich.

  2. It takes money to make money.

  3. Someone else will take care of you (gov't, spouse etc.)

• There are no myths of money.

Rule 72 means what?

• How often your money will double based on the interest your investments generate.

• At what age you should retire.

• The percentage you need to earn to make a million.

• How often you can expect to travel if you have a million dollars.

Compound interest can make you a millionaire because you earn interest on your interest.

• True

• False

If you invest $5K and you earn 10% how much interest have you earned?

• $5

• $50

• $50.50

• $500

Credit cards are bad because ruin your credit score.

• True

• False

Automatic investing is key to success more than budgeting according to The Latte Factor.

• True

• False

According to The Latte Factor how much money a day do you need to set aside to reach financial freedom?

• $2

• $5

• $10

• It never said.

In the Millionaire Mindset what shapes our thought patterns?

• Our parents income strategies

• Our parents spending behaviours

• What our parents say about money.

• All are correct

What do the text, "The Millionaire Mindset" and "The Latte Factor" have in common?

• Nothing

• They both say you are responsible for your wealth.

• The government will bail you out.