Money Management and Spending Rules

What is the name of the rule that helps you think about spending money wisely?

• Rule of 3 Questions

• Rule of 5 Points

• Rule of Smart Saving

• Rule of Buying Everything

What is the first question you should ask yourself before buying something?

• Is it cheap?

• Will my friends like it?

• Do I really want it?

• Can I get it right now?

What does it mean to ask 'Can I afford it?' before you buy something?

• If you can buy it with a credit card

• If you have enough money to buy it without making your other money problems worse

• If your friends also have it

• If it is a very popular item

The speaker says it's important to spend money on what you need, not just what you desire. Which of these is a need?

• A new video game

• A fancy toy

• Food for dinner

• A new pair of shoes you don't really need

Imagine life insurance costs as much as one hot dog each month. If a hot dog costs $3, how much would the insurance cost for 2 months?

• $3

• $6

• $9

• $12

The video talks about some rules for spending money. First, there were 3 rules, and then 2 more rules were added. How many rules are there in total?

• 3

• 2

• 5

• 4

Someone kept a t-shirt for 12 years without wearing it. If they kept it for 3 more years, how many years would they have kept the t-shirt in total?

• 9 years

• 12 years

• 15 years

• 18 years

A fancy pair of jeans costs $500. A simple pair of jeans costs $50. How much more expensive are the fancy jeans?

• $450

• $50

• $550

• $100