9.5 Saving Quiz (Open Notes)

What was the total household debt in the second quarter of 2022?

• $16.5 trillion

• $11.39 trillion

• $890 billion

• $96,371

What was the average household debt in 2021?

• $96,371

• $220,380

• $6,271

• $1,487

How much was the total credit card debt in the second quarter of 2022?

• $890 billion

• $16.5 trillion

• $11.39 trillion

• $220,380

What was the average mortgage debt in 2021?

• $220,380

• $96,371

• $1,487

• $6,271

What was the average (mean) mortgage payment in 2019?

• $1,487

• $6,271

• $220,380

• $96,371

According to the survey, what percentage of US adults with no savings reported being happy?

• 29%

• 34%

• 42%

• 57%

What was the reported happiness percentage for those with more than $100,000 in savings?

• 29%

• 34%

• 42%

• 57%

What is one challenge people face when trying to save money?

• Lack of motivation

• Excessive income

• Too much free time

• Overabundance of resources

Why is it important to maintain an emergency fund?

• To buy luxury items

• To cover unexpected expenses

• To invest in stocks

• To pay for vacations

What does analyzing the value of saving money help with?

• Understanding spending habits

• Increasing debt

• Reducing income

• Ignoring financial goals