WorksheetsChapter 3--Savings
Total questions: 17
Worksheet time: 10mins
You'll have less freedom with your money if you . . .
Invest in the stock market
Are paying for things in your past
Put money in a bank account
Make less than $35,000
Once you have a $500 emergency fund, you should . . .
Start putting it toward debt
Invest it in the stock market to grow
your money
Save it until you have an emergency
Use the money to pay for health insurance
The best way to build wealth is to start investing early. You should start investing money . . .
Once you have a fully funded emergency
fund
Once you're out of college, living debt-free,
and have 3–6 months of living expenses saved
When the stock market is performing
really well
As soon as you have extra cash
If you really want to save money, you've got to . . .
Fly economy class
Live on less than you make
Invest in a Roth IRA
Have a financial advisor
The only place you should keep your emergency fund money is...
A savings account or money market account.
A safe in your bedroom
A Roth IRA
An envelope in a safe place
The interest rate on a savings account determines . . .
How much money you need to have to open
the account
How much you will pay the bank to manage
the account
The amount of time your money will be in
the account
How quickly your money will grow over time
____________ is a millionaire's best friend.
Accrued interest
Compound interest
High returns
Profit sharing
The main reasons for saving your hard-earned money are . . .
Emergencies, large purchases, and wealth
building
Paying for your dream home, buying your
dream car, and going on your dream vacation
Buying gifts, donating to charities, and
building up a college fund for your kids
Investing, indulging, and influencing
The top three careers reported among millionaires were _____, ______, and _______.
Pro athletes; bankers; CEOs
Lawyers; surgeons; accountants
Celebrities; developers; writers
Accountants; engineers; teachers
While saving money isn't easy at first, it will make your life a lot in the future if you
make it a habit now.
Easier
Harder
Poorer
Longer
One of the main reasons we build wealth is so that we can . . .
Give to those in need
Spend it all on ourselves
Impress the people around us
Prove that we are successful
Which principle says that a certain amount of money today is worth more than the same amount in
the future?
Inflation
Rate of return
The time value of money
Principal interest
Which two habits are the most important for building wealth and becoming a millionaire?
Working a high-paying job and relying on a
trust fund
Always paying off your credit card on time
and putting extra money into a retirement
account
Investing into the right stocks and using a
private CPA
Consistently investing money and patience
to give it time to grow
45% of Americans have less than $1,000 saved for a(n) (a) .
An investment's (a) is its percentage of gain or loss over time.
Do you have a savings account?
Yes
No
Do you feel like you will be able to save money and build wealth when you are older?
Yes
No
