Test 1 Flashcards
1
Q
Murphy’s law is more likely to strike if you are prepared
A
F
2
Q
1st baby step is paying off debt
A
F
3
Q
Pre authorized checkin helps to build discipline in saving
A
T
4
Q
You should invest 10% of income for retirement plan
A
F
5
Q
Baby step 1 is
A
Emergency fund
6
Q
Typical American has ____savings rate
A
Negative
7
Q
Saving must be a
A
Priority
8
Q
Emergency fund is not a big
A
Earner
9
Q
Fully funded emergency fund is ___ months of expenses
A
3-6
10
Q
Pay yourself
A
First
11
Q
Use____ approach instead of borrowing money
A
Sinking fund
12
Q
%by which money can grow called
A
Rate of return
13
Q
Murphy’s law says
A
Whatever can go wrong will go wrong
14
Q
Emergency fund goes into a
A
Money market
15
Q
Which should you save
A
All the above
