
10 20th Rule Financial Guidelines
Interactive Video
•
Business, Life Skills
•
9th - 12th Grade
•
Practice Problem
•
Hard
Aiden Montgomery
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main benefit of the 10 20th Rule?
It helps you take control of your finances and reduce stress.
It encourages you to invest all your money.
It allows you to save 50% of your income.
It helps you spend more money.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to the 10 20th Rule, what percentage of your income should be saved each month?
30%
40%
20%
10%
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the maximum percentage of your income that should go towards debt payments according to the 10 20th Rule?
15%
10%
20%
5%
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a potential benefit of following the 10 20th Rule?
More debt accumulation
Higher opportunity costs for investments
Increased financial instability
Reduced savings
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one of the purposes of the 10 20th Rule?
To avoid saving money.
To increase daily expenses.
To help build an emergency fund.
To encourage spending on luxury items.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does the 10 20th Rule help in reducing debt?
By spending all income on investments.
By increasing daily spending.
By limiting daily spending and allocating more towards debt payments.
By avoiding debt payments.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What percentage of your income should be used for everyday expenses according to the 10 20th Rule?
50%
60%
80%
70%
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