Managing Your Money in Your 20s

Managing Your Money in Your 20s

12th Grade

8 Qs

quiz-placeholder

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Managing Your Money in Your 20s

Managing Your Money in Your 20s

Assessment

Quiz

Other

12th Grade

Practice Problem

Hard

Created by

Rodney Sink

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8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

15%

35%

65%

85%

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

$100

$250

$500

$1000

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

8.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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