How To Win The Money Game! - The Playbook (Savings, Budgeting, Finance & Entrepreneurship)

Question 1

How is wealth defined?

Accepted Answer

Assets - Debts

Question 2

You can save $$$ in a life insurance policy!

Accepted Answer

True

Question 3

About how much should you save in an emergency fund?

Accepted Answer

3-6 months of living expenses

Question 4

What might you need to open a savings account?

Accepted Answer

Minimum opening deposit, Identification

Question 5

What is NOT a reason to save money?!

Accepted Answer

Just To Save Money

Question 6

Which of the following is FALSE about saving and investing?

Accepted Answer

Both saving and investing generally have low returns, Saving has more risk; investing has less risk

Question 7

What is a 529 account?

Accepted Answer

A tax exempt fund that lets your savings grow for school

Question 8

How does inflation impact the money in your savings account?

Accepted Answer

The purchasing power of your money decreases over time

Question 9

What are 3 ways to earn income?

Accepted Answer

Self Employment - Work For Yourself, Investments - Your Money Working Fo You!, Employment - Job

Question 10

Assuming a rate of growth of 8%, in how many years will your $ double?

Accepted Answer

9 years

Question 11

Which is TRUE about Certificates of Deposit (CDs)?

Accepted Answer

The bank pays you interest in return, The bank can loan out the $ in your CD

Question 12

What are 3 reasons you should have a Financial Coach?!

Accepted Answer

Create Million Dollar Baby Account For Youth Under 18, Help You With Life & Health Insurance, Help You With Planning For Retirement

Question 13

What 2 ways is NOT a way to get & keep good credit?!

Accepted Answer

Spending All Your Money, Borrowing More Than You Can Afford To Repay!

Question 14

At what rate does your $ need to grow at to double in 18 years?

Accepted Answer

4%

Question 15

What is a general rule of thumb on how much you should save?

Accepted Answer

20% of your income

Question 16

What factors may be having an influence on your money?!

Accepted Answer

Friends & Peers, Latest Styles & Fads, Emotions, Advertising

Question 17

What are 2 ways you can take control of your money?!

Accepted Answer

Budgeting, Saving Money

Question 18

What are 2 things can you do to make good money decisions?

Accepted Answer

Ask yourself, does this align with my goals?!, Ask yourself, can I really afford to make this purchase?!

Question 19

What is the worst place to save your money?!

Accepted Answer

Under The Matress

Question 20

Which is NOT a typical goal for a savings account?

Accepted Answer

To buy groceries for this week

Question 21

What are some reasons for why so many Americans live paycheck-to-paycheck?

Accepted Answer

Many people impulse shop

Question 22

What is a good strategy to help you save?

Accepted Answer

Pay yourself first - set aside money for savings each month

Question 23

How is compound interest different than simple interest?

Accepted Answer

It is simple interest + interest earned on that interest

Question 24

What did Albert Einstein say is the 8th wonder of the world?

Accepted Answer

Compound Interest

Question 25

True or False: You need a checking account to open a savings account.

Accepted Answer

False

How To Win The Money Game! - The Playbook (Savings, Budgeting, Finance & Entrepreneurship)

Questions 25

How To Win The Money Game! - The Playbook (Savings, Budgeting, Finance & Entrepreneurship)

Questions 25