What is the benefit of having financial security?(1 point)
The benefit of having financial security is the peace of mind and reduced stress that comes with having enough money to cover expenses and unexpected emergencies.
What is the benefit of having financial security?(1 point)
Responses
ability to avoid stress and gain a sense of control
ability to avoid stress and gain a sense of control
ability to stop saving money
ability to stop saving money
ability to quit working and enjoy yourself
ability to quit working and enjoy yourself
ability to spend as much as you
want without worrying about running out of money
ability to spend as much as you want without worrying about running out of money
What is a key requirement of a savings plan?(1 point)
A key requirement of a savings plan is discipline.
What is a key requirement of a savings plan?(1 point)
Responses
to prioritize saving regularly without exception
to prioritize saving regularly without exception
to save any money that has not been spent
to save any money that has not been spent
to prioritize saving money when it is convenient
to prioritize saving money when it is convenient
to save money whenever you are at the bank or an ATM
to prioritize saving regularly without exception
Which is a benefit of using auto-deposit to implement a savings plan?(1 point)
Responses
Auto-deposit insulates the saver so that they do not have to change their behaviors.
Auto-deposit insulates the saver so that they do not have to change their behaviors.
The deposit occurs automatically, so there is less temptation to spend the money.
The deposit occurs automatically, so there is less temptation to spend the money.
Using auto-deposit removes the responsibility from the saver.
Using auto-deposit removes the responsibility from the saver.
There is little inherent benefit to using auto-deposit.
The deposit occurs automatically, so there is less temptation to spend the money.
Which option describes an emergency fund?
(1 point)
Responses
Low-risk investments in case something bad happens.
Low-risk investments in case something bad happens.
A quantity of money set aside in case something bad happens.
A quantity of money set aside in case something bad happens.
A quantity of money set aside for an expense that you anticipate, such as buying a car or a house.
A quantity of money set aside for an expense that you anticipate, such as buying a car or a house.
A mutual fund that gives you an annual return to grow for retirement.