Youth.ly Collective x ToL

Question 1

Financial literacy is only for adults

Accepted Answer

False

Question 2

By the 50/30/20 budgeting rule, what does the "20" refer to?

Accepted Answer

Savings

Question 3

Which of the following is an index fund?

Accepted Answer

S&P 500

Question 4

Does a "riskier investment" = "higher investment returns"?

Accepted Answer

False

Question 5

Assets vs Liabilities: Which is not an asset?

Accepted Answer

Car loan

Question 6

How many types of wealth did we share about?

Accepted Answer

Four

Question 7

Is wealth just about money?

Accepted Answer

False

Question 8

Which is the class of investment that is the least risky?

Accepted Answer

Fixed deposits/ Government bonds

Question 9

Is investment an effective way to beat inflation?

Accepted Answer

True

Question 10

Is saving money alone sufficient to beat inflation?

Accepted Answer

False

Question 11

Is the 50/30/20 rule the best rule for everyone?

Accepted Answer

False

Question 12

Potential benefits of using a credit card

Accepted Answer

Allows for instalment payment, Allows one to purchase a "big-ticket" item without cash on hand, Allows for one to build up their credit score

Question 13

How many months should an emergency fund last?

Accepted Answer

3-6 months of expenses

Question 14

I am now more confident to take on financial literacy!

Accepted Answer

True

Question 15

What is inflation?

Accepted Answer

Rise in general price levels; reduced real purchasing power

Questions 15