Warriors Elite Club - Feb'23

The following are the importance of Financial Planning, except...?

• You can plan for your budget in a better manner

• It makes you disciplined towards money

• It makes you poorer

• It provides direction to your dreams and goals

Why Investment is a must nowadays ?

• Inflation is high nowadays

• Able to earn return to hedge against inflation

• Investment is part of Financial Planning

• All of the above are correct.

The following are ways to build wealth, except...?

• Investing your money

• Save money for investment

• Start saving and investing early

• Spend money on a new car

Investment concepts includes the following, except...?

• Debt Management

• Diversification

• Asset Allocation

• Ringgit Cost Averaging

Ringgit Cost Averaging is...

• A lump sum investment

• Borrowing money to invest

• A regular investment technique by investing a fixed amount of money over time

• An investment strategy that has market timing element

What are the benefits of Ringgit Cost Averaging?

• Works well in a volatile market

• Cushion the impact of a falling market

• Avoids market timing

• All of the above are correct

Which of the below statement is NOT TRUE for budgeting?

• Planning how you will spend and save money each month

• Keep track of your spending patterns

• Spending your money without control

• Having better control in managing your money

The 50/30/20 rule of thumb for budgeting refers to:

• 50% Needs, 30% Wants, 20% Savings

• 50% Wants, 30% Needs, 20% Savings

• 50% Savings, 30% Wants, 20% Needs

• 50% Wants, 30% Savings, 20% Needs

Which of the following will help us avoid the debt trap?

• Practise budgeting

• Spend within your means

• Practise smart spending habits

• All of the above are correct

What is a recommended healthy Debt-to-Income Ratio?

• More than 67%

• Less than 40%

• Around 50% - 60%

• 0%