Financial Planning Quiz

What are the four main components of a financial plan?

• Budget, savings plan, investment plan, retirement plan

• Budget, savings plan, debt repayment plan, investment plan

• Budget, savings plan, investment plan, credit card plan

• Budget, savings plan, debt repayment plan, retirement plan

What is a budget?

• A plan that shows how much money you save each month

• A plan that shows how much money you invest each month

• A plan that shows how much money you earn, spend, and save each month

• A plan that shows how much money you pay each month to reduce your debts

What is a savings plan?

• A plan that shows how much money you save each month for your short, medium, and long term goals

• A plan that shows how much money you invest each month to grow your wealth

• A plan that shows how much money you pay each month to reduce your debts

• A plan that shows how much money you earn, spend, and save each month

What is a debt repayment plan?

• A plan that shows how much money you save each month for your short, medium, and long term goals

• A plan that shows how much money you invest each month to grow your wealth

• A plan that shows how much money you pay each month to reduce your debts

• A plan that shows how much money you earn, spend, and save each month

What is an investment plan?

• A plan that shows how much money you save each month for your short, medium, and long term goals

• A plan that shows how much money you invest each month to grow your wealth

• A plan that shows how much money you pay each month to reduce your debts

• A plan that shows how much money you earn, spend, and save each month

Which app can be used to track budget, savings, debt, and investments?

• Mint

• YNAB

• Personal Capital

• All of the above

Which website can be used to learn more about financial topics and access calculators and quizzes?

• NerdWallet

• Investopedia

• Khan Academy

• All of the above

Which calculator can be used to estimate savings, debt, and investment needs and outcomes?

• Bankrate

• SmartAsset

• FinAid

• All of the above

Which advisor can provide professional guidance and support in creating and implementing a financial plan?

• Financial planners

• Counselors

• Coaches

• All of the above

What is the first step in creating a financial plan?

• Setting SMART financial goals

• Creating a budget

• Creating a savings plan

• Creating an investment plan