Jumpstart Your Emergency Savings Fun!

What is a good first savings goal for your emergency savings account?

• Buy a lottery ticket and hope for the best.

• Set a small, achievable savings goal, like $1000.

• Spend all your money on a professional wardrobe.

Which of the following is a useful tip to avoid emotional spending?

• Freeze your credit card into a block of ice.

• Identify your spending triggers and find healthier coping mechanisms.

• Buy a new pair of shoes every time you feel sad.

What is the purpose of a 24-hour pause before making a purchase?

• To give you time to find your credit card.

• To help you decide if the purchase is necessary and fits your budget.

• To see if the item goes on sale.

How can you use windfalls like tax returns to boost your savings?

• Spend it all on a vacation.

• Treat it as "found money" and deposit it into your savings account.

• Use it to buy gold.

What does the "S" in SMART goals stand for when setting savings goals?

• Silly

• Specific

• Spontaneous

What is a recommended amount for an initial emergency fund?

• $10,000

• $1,000

• $100

After reaching an initial emergency fund, what is the next savings milestone?

• 3 months' worth of living expenses

• A new car

• A year's worth of movie tickets

What is one way to jump-start your savings account?

• Open a new account with a bank offering a sign-up bonus.

• Hide your money under your mattress.

• Spend it all on a weekend getaway.

Tenile noticed that she was spending too much money on online shopping. Why should she consider removing saved card information from online stores?

• To make online shopping more exciting.

• To reduce the temptation of one-click purchases.

• To confuse the online store.

What is a good strategy for using work bonuses to enhance your savings?

• Invest in your cousin's start-up salt company.

• Deposit them into your savings account as if they were "found money."

• Buy a new wardrobe, you've got to dress for success.