10 Ways To Save For An Emergency Savings Way
Authored by Ashley Money
Financial Education
University
Savings covered
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13 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary purpose of an emergency savings fund according to the text?
To pay for luxury vacations
To invest in stocks for future gains
To provide a financial safety net during bad times
To finance bigger or more expensive purchases
Answer explanation
The primary purpose of an emergency savings fund is to provide a financial safety net during bad times, as stated in the text.
Tags
Savings
Emergency Savings Fund
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How did the host, Corey Fowler, view their emergency savings account?
As a retirement fund
As an FU fund
As a travel fund
As a college fund
Answer explanation
Corey Fowler viewed their emergency savings account as an FU fund, not as a retirement, travel, or college fund.
Tags
Emergency Savings Fund
Savings
Financial Eduation
FU Fund
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What was Corey Fowler's main business before the pandemic?
Online retail
Financial consulting
Graphic design
Wedding photography
Answer explanation
Corey Fowler's main business before the pandemic was wedding photography, as indicated in the correct answer choice.
Tags
Savings
Emergency Savings Fund
Financial Eduation
Corey Fowler
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a HESA, as mentioned in the text?
High Interest Savings Account
High Earnings Stock Account
High Efficiency Savings Account
High Energy Savings Account
Answer explanation
The correct choice is 'High Interest Savings Account' because HESA stands for High Interest Savings Account as mentioned in the text.
Tags
Savings
Emergency Savings Fund
Financial Eduation
High Interest Savings Accounts
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the first step to creating your own FU fund according to the episode?
Decide how much time you want to buy for yourself
Establish what your necessary fixed life expenses are
Decide where to keep your emergency fund
Start funneling more money into your emergency fund
Answer explanation
The first step to creating your own FU fund is to establish what your necessary fixed life expenses are.
Tags
Savings
Emergency Savings Fund
Financial Eduation
FU Fund
Spending Tracker
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does Corey Fowler suggest doing every year regarding bills?
Increasing your spending limits
Switching to new service providers
Renegotiating your contracts and bills
Canceling all your subscriptions
Answer explanation
Corey Fowler suggests renegotiating your contracts and bills every year to potentially save money.
Tags
Savings
Emergency Savings Fund
Financial Eduation
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to the text, what is a temporary way to increase income mentioned?
Renting out your primary residence
Investing in the stock market
Taking on a few gig work shifts
Selling your car
Answer explanation
The correct choice is taking on a few gig work shifts, as mentioned in the text as a temporary way to increase income.
Tags
Savings
Emergency Savings Fund
Financial Eduation
Gig Work
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