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WorksheetsHow Financially Fit Are You?
Total questions: 8
Worksheet time: 4mins
What does the 50/30/20 rule refer to?
50% savings, 30% spending, 20% investing
50% needs, 30% wants, 20% savings/debt repayment
50% rent, 30% food, 20% transport
50% income, 30% tax, 20% bonus
Which of the following is considered a “need” in budgeting?
Netflix subscription
Groceries
New clothes for a party
Concert tickets
What is compound interest?
Interest that decreases over time
Interest earned on both the initial amount and the interest already earned
Interest that only applies to loans
A type of tax on savings
You’re using a budgeting app. What’s the first thing you should do?
Choose a cute theme
List your income and expenses
Link it to your TikTok
Set a goal to become a millionaire next week
Which of these is the safest way to build an emergency fund?
Investing in stocks
Saving in a high-interest savings account
Buying cryptocurrency
Lending money to friends
What does “diversifying your investments” mean?
Putting all your money into one stock
Spreading your money across different types of investments
Only investing in foreign markets
Avoiding risky investments
If you spend more than you earn every month, what will happen?
You’ll save more
You’ll go into debt
Your credit score will improve
You’ll earn interest
What is the purpose of a budget?
To limit your freedom
To help you plan and control your spending
To track your taxes
To calculate your net worth
