What does "Pay Yourself First" (PYF) mean in terms of saving money?

• Spending all your income before saving

• Automatically saving a portion of your income for future use

• Paying all your bills before saving

• Investing all your money in stocks

Which of the following is a safe way to save money?

• Investing in stocks

• Putting money into a savings account

• Buying real estate

• Starting a business

What is a financial institution?

• A place where you buy groceries

• A place that helps people save and invest money

• A type of insurance company

• A government agency

Which of the following investment types is NOT guaranteed?

• Savings account

• Stocks

• Bonds

• Mutual funds

What is the main benefit of investing in stocks, mutual funds, or bonds compared to a savings account?

• They are risk-free

• They offer higher rates of return over time

• They are easier to access

• They have no fees

What is the primary purpose of a savings account?

• To earn high returns quickly

• To safely store money and earn interest

• To invest in real estate

• To buy stocks

Which of the following is NOT a type of financial institution?

• Bank

• Credit union

• Grocery store

• Investment firm

What is a common feature of savings accounts?

• High-interest rates

• Low-interest rates

• No interest rates

• Guaranteed high returns

Why might someone choose to invest in mutual funds?

• They are risk-free

• They offer a chance for higher returns than savings accounts

• They require no initial investment

• They are managed by the government

What does it mean to "invest your principal"?

• To spend all your money

• To put your initial amount of money into an investment

• To save money in a piggy bank

• To borrow money from a bank