
Strategies to Save
Authored by Khari Burns
Social Studies
10th Grade
Used 2+ times

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33 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Various rules of thumb and strategies to save money include:
Creating a budget and tracking expenses
Spending more than you earn
Ignoring sales and discounts
Avoiding any form of savings
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Identify which of the following is an example of short, medium, and long-term savings goals.
Saving for a vacation, buying a car, saving for retirement
Saving for retirement, buying groceries, paying rent
Buying a car, paying monthly bills, saving for a vacation
Paying rent, saving for a vacation, buying groceries
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An emergency fund is for which of the following purposes and how much should you save up?
To cover unexpected expenses; typically 3-6 months of living expenses
To invest in stocks; at least 12 months of income
To pay for planned vacations; 1 month of salary
To buy luxury items; as much as possible
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The video suggests saving...
10% of your income
50% of your income
5% of your income
25% of your income
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The portion of your paycheck that is designated for saving falls under which categories?
Savings and investments
Entertainment and leisure
Utilities and bills
Groceries and dining
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Starting to save or invest now is sensible because:
it allows your money to grow over time through compounding.
it guarantees instant wealth.
it eliminates all financial risks immediately.
it prevents you from ever needing a budget.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
One reason it's crucial to begin saving early is:
You have more time to grow your savings through interest and investments.
You can spend more money on unnecessary things.
It is easier to borrow money later in life.
You will never need to budget your expenses.
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