MONEY

Paying yourself first means you should save a portion of your income before paying any bills.

• TRUE

• FALSE

You should check your credit report once every few years.

• TRUE

• FALSE

The 50/30/20 budgeting rule suggests allocating 50% of income to needs, 30% to wants, and 20% to savings

• TRUE

• FALSE

Paying more than the minimum amount on your credit card each month can help you save money and pay off debt faster.

• TRUE

• FALSE

A budget is unnecessary if you have a high income because you can afford your expenses without tracking them.

• TRUE

• FALSE

It's acceptable to skip a payment occasionally as long as you eventually pay it off.

• TRUE

• FALSE

Living below your means involves spending more than you earn to enjoy life now and save later.

• TRUE

• FALSE

Having an emergency fund should ideally cover at least three months' worth of expenses.

• TRUE

• FALSE

A budget is one of the most important tools for managing finances effectively.

• TRUE

• FALSE

Investing in assets is always better than keeping cash in a savings account due to inflation.

• TRUE

• FALSE