Financial Literacy Banzai

The ___ rule states that your after-tax income should be divided this way:

50% -- needs

30% -- wants

20% -- savings

• 50/30/20

• 40/90/70

• 45/75

• 23/65/17

One of the great secrets to saving is finding ways to make it...

• Hurt

• Automatic

• Difficult

• Easy

___ is a type of savings account for retirement.

• G-6

• 709 (R)

• 401(k)

• 505(H)

Three components of auto insurance: Property damage, comprehensive, personal injury or personal liability, uninsured/underinsured, and ___.

• insurance

• mobile

• auto

• collision

A ___ is the amount of money you have to pay before insurance kicks in.

• adjustable

• deductible

• financial

• agreeable

A lower deductible usually means a higher ___.

• policy

• account

• label

• premium

___ are things you can’t do without.

• Needs

• wants

• savings

___ are things that are nice to have but not necessary.

• Needs

• Wants

• Savings

___ is money you put away for a big purchase or emergency.

• Needs

• Wants

• Savings

Five examples of wants:

• eating out, coffee, Netflix subscription, designer clothes, Xbox

• groceries, rent/mortgage, utilities, medical costs, insurance

• emergency fund, retirement, 401(k), vacation, down payment on car