Money Matters Mastery: Household Financial Checkup

Question Title

* 1. What is an emergency fund?

A) A separate savings account for holiday expenses.

B) A pool of money set aside for unexpected financial needs>

C) A fund used for luxry purchases.

D) A retirement account.

Question Title

* 2. What is the 50/30/20 rule in budgeting?

A) A rule for saving at least 50% of your income.

B) Allocating 30% ofyour income to rent or mortgage.

C) Allocaitng 50% for essential expenses, 30% for discretionary spending, and 20% for savings.

D) A guideline for donating 50% of your income to charity.

Question Title

* 3. What does the term "credit score" represent?

A) The amount of money you have in your bank account.

B) The number of credit cards you own.

C) Your ability to save money.

D) Your creditworthiness and ability to repay debts.

Question Title

* 4. What is the purpose of life insurance?

A) To provide a way to invest your money.

B) To protect your family financially in case of your death.

C) To fund your retirement.

D) To cover medical expenses.

Question Title

* 5. What is the benefit of diversifying investments?

A) It guarantees high returns.

B) It eliminates the need to track your investments.

C) It reduces risk by spreading your investments across different asset classes.

D) It provides tax deductions.

Question Title

* 6. What is the difference between a debit card and a credit card?

A) Debit cards allow you to borrow money, while credit cards don't.

B) Credit cards are linked to your bank account, while debit cards are not.

C) Debit cards spend money you already have, while credit cards let you borrow money to pay back later.

D) Debit cards are for online purchases only, while credit cards are for in-store purchases.

Question Title

* 7. What is compound interest?

A) The interest paid on loans.

B) Interest calculated onky once a year.

C) Interest calculated on the initial amount only.

D) Interest earned on both the initial amount and accumulated interest.

Question Title

* 8. When should you review your financial goals and/or your financial plan?

A) Once in a lifetime.

B) Only when you're facing financial difficulties.

C) Regularly, and whenever there are major life changes.

D) Only when you're close to retirement.

Question Title

* 9. What is inflation?

A) A decrease in the cost of living.

B) A rise in the value of money.

C)An Increase in the price of goods and services over time.

D) A situation where prices remain constant.

Question Title

* 10. What is a 401(k) plan?

A) A plan for saving $401,000 in a year.

B) A type of health insurance.

C) A retirement savings plan offered by employers.

D) A savings account for emergencies.

Question Title

* 11. How confident are you that you are on the right track to save enough for retirement?

Extremely confident

Very confident

Somewhat confident

Not so confident

Not at all confident

Question Title

* 12. How important is it to you to know that you are on track for achieving your financial goals?

Extremely Important

Very Important

Somewhat Important

Not so important

Not Important at all

Money Matters Mastery: Household Financial Checkup

Question Title

* 1. What is an emergency fund?

Question Title

* 2. What is the 50/30/20 rule in budgeting?

Question Title

* 3. What does the term "credit score" represent?

Question Title

* 4. What is the purpose of life insurance?

Question Title

* 5. What is the benefit of diversifying investments?

Question Title

* 6. What is the difference between a debit card and a credit card?

Question Title

* 7. What is compound interest?

Question Title

* 8. When should you review your financial goals and/or your financial plan?

Question Title

* 9. What is inflation?

Question Title

* 10. What is a 401(k) plan?

Question Title

* 11. How confident are you that you are on the right track to save enough for retirement?

Question Title

* 12. How important is it to you to know that you are on track for achieving your financial goals?

Question Title

* 13. What is your full name?

Question Title

* 14. What email address would you like to receive your results at?

Question Title

* 15. Provide the best phone number at which to reach you.