Financial Wisdom from 'The Richest Man in Babylon'

What percentage of your income does the video suggest you should save to build wealth?

• 5%

• 10%

• 15%

• 20%

Which of the following is NOT a recommended strategy for controlling expenses?

• Cutting unnecessary expenses

• Doubling your income

• Budgeting

• Tracking your expenses

Why does the video advise against investing in Bitcoin?

• It's guaranteed to lose value

• It's illegal

• It's not well understood by most

• It's not a real currency

What is a key benefit of investing in areas where you have knowledge?

• More control over outcomes

• Higher risk

• Less effort required

• Guaranteed returns

What is the main focus of continuous learning according to the video?

• To learn a new language

• To travel the world

• To expand investment knowledge

• To become a teacher

What should you do to broaden your investment area?

• Invest in unknown areas

• Avoid learning new things

• Take courses to learn more

• Rely on luck

What is one way to protect your money from fatal loss?

• Investing in high-risk stocks

• Buying insurance

• Keeping cash at home

• Gambling

What is a passive income?

• Income that is not taxed

• Income from a single job

• Income that grows without active involvement

• Income that requires constant work

What is the benefit of setting up passive income streams?

• To increase expenses

• To work more hours

• To ensure financial stability when unable to work

• To avoid paying taxes

What is the risk of keeping all your cash at home?

• It will earn interest

• It will grow faster

• It might get stolen or lost

• It will be insured