Spending, Saving Strategies, and Family Planning

What is an example of a good financial goal according to the text?

• I want to spend less.

• I want to save $75 extra a month.

• I want to buy a new car.

• I want to travel more.

What should you ideally avoid doing with your savings account?

• Depositing money.

• Taking money out.

• Checking the balance.

• Earning interest.

What is a suggested way to handle emergencies according to the text?

• Use a credit card.

• Borrow from friends.

• Have a stash of "Emergency Cash" in your checking account.

• Ignore the emergency.

What is the purpose of having a clear goal in budgeting?

• To confuse others.

• To create action steps and track progress.

• To spend more money.

• To avoid making a budget.

What is the main focus of the "Pay Yourself First" strategy?

• Spending more money.

• Instantly saving from your paycheck.

• Ignoring savings.

• Investing in stocks.

What is a simple strategy to avoid spending too much money?

• Keep your credit cards at home

• Use cash for all purchases

• Set a daily spending limit

• Shop online only

What is the benefit of not ordering on the same day?

• You will get a discount

• You will avoid impulse purchases

• You will receive faster shipping

• You will earn reward points

How long should you wait before buying something to avoid impulse purchases?

• 1-2 hours

• 1-2 days

• 1-2 weeks

• 1-2 months

What is one effect of keeping your credit card at home?

• You will earn more interest

• You will spend less money

• You will increase your credit score

• You will have more credit available

What does the bank do if you opt out of overdraft?

• Charges a fee for opting out

• Declines your card if you try to overdraft

• Increases your overdraft limit

• Offers a loan to cover overdrafts