Finance flash

Henry wants to save for any emergencies, he does not know where to spend. Can you help him?

• Fixed deposit

• Savings Account

• Investing in stock market

• Current account

Answer explanation

It can't be Fixed deposit because we can't remove it whenever we want (we don't know when we would need emergency funds.) nor can it be an investment because we might have to remove it in loss, Putting our money in current account (presuming you have a business) would give you the overdraft facility but no interest. So finally the answer is a savings account.

Tommy likes to spend a lot on wants, if we directly tell him to not spend so much, he won't listen. What could we tell him to convince him not to spend too much on wants?

• "If you invest your money into a stock than you will get more money, without hard work, just patiance"

• "Till when can you spend, after some time you will be bankcrupt"

• "Your life may fell great NOW but later you WILL regret it"

Answer explanation

All are telling the truth but only one is telling what to do else wise. INVEST!

Which order is correct

• First came the barter system than digital money than fiat money and finally cryptocurrency

• First came cryptocurrency then came fiat money then came barter system and finally digital money

• First came the barter system then fiat money than digital money and finally cryptocurrency.

If you need $400 and you only have $100, from where, where will you take $300 from

• Bank loan of only $50

• Friend no cost-loan of $200

• Family gift of $100

• profitable investment of $30 profit

Do you agree that savings should be more than needs in a budget

• yes

• no

• they should be equal

• investment is better than saving