Managing Your Money in Your 20s

According to the article, what is the recommended approach to managing expenses after getting a new job?

• Continue living like a broke college student

• Upgrade your lifestyle to match your new salary

• Spend money freely without worrying about expenses

• Invest in expensive luxury items

What percentage of new graduates move back home with their parents?

• 15%

• 35%

• 65%

• 85%

What is the best strategy for dealing with credit card debt?

• Avoid credit card debt completely

• Use credit cards for all expenses

• Pay off credit card debt as soon as possible

• Ignore credit card debt and focus on other expenses

Which card should you prioritize paying off first if you have multiple credit cards?

• The card with the highest credit limit

• The card with the lowest credit limit

• The card with the highest interest rate

• The card with the lowest interest rate

What is the recommended approach to paying off student loans?

• Pay off the entire loan as soon as possible

• Make slow and steady monthly payments

• Ignore the loan and focus on other expenses

• Only make payments if you have extra cash to spare

How much cash cushion does the article recommend having for emergency expenses?

• $100

• $250

• $500

• $1000

What types of insurance should you have to protect your finances?

• Health insurance only

• Rental insurance only

• Disability and life insurance only

• Health insurance, rental insurance, disability insurance, and life insurance

Why is it important to monitor your investments?

• To maximize earnings and be prepared for retirement

• To avoid paying fees and charges

• To ensure a balanced portfolio

• To take advantage of compounding interest