Step 1: Save Instead of Spend
Passage
•
Other
•
9th Grade
•
Easy
Brian Bellamy
Used 1+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to the text, what is necessary to achieve financial independence?
Spending all your money
Saving and investing some of your money
Not saving any money
Spending more than you save
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How much money do you need to accumulate by age 65 to get a $1 million payoff?
$100,000
$200,000
$300,000
$400,000
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If you start saving at age 21, how much should you save monthly to achieve $300,000 by age 65 and the $1,000,000 goal?
$50
$62
$75
$86
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the impact of the advice in Small Step #1 according to the text?
It is the least impactful
It is moderately impactful
It is the most impactful
It has no impact
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the key to enjoying life while saving, according to the text?
Save all your money
Spend all your money
Save some and spend some
Only invest in stocks
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What opportunity do young people have regarding their savings?
Access to high-interest savings accounts
Ability to compound savings over long periods
Government grants for savings
Tax-free savings options
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does "live below your means" imply?
Spend more than you earn
Spend less than you earn
Spend exactly what you earn
Borrow money to spend
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