Test 1 Flashcards
Murphy’s law is more likely to strike if you are prepared
F
1st baby step is paying off debt
F
Pre authorized checkin helps to build discipline in saving
T
You should invest 10% of income for retirement plan
F
Baby step 1 is
Emergency fund
Typical American has ____savings rate
Negative
Saving must be a
Priority
Emergency fund is not a big
Earner
Fully funded emergency fund is ___ months of expenses
3-6
Pay yourself
First
Use____ approach instead of borrowing money
Sinking fund
%by which money can grow called
Rate of return
Murphy’s law says
Whatever can go wrong will go wrong
Emergency fund goes into a
Money market
Which should you save
All the above
Which is true about saving
Priority
Sinking fund approach means
Saving and paying cash
Which statement is true about 40 years
Interest rate
Which is true
When you pay with cash you get better deals
What is next step after fully funded emergency fund
Start investing 15% incone
First thing you should save for is retirement
F
