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
None of the above
try again
The benefit of having financial security is the ability to avoid stress and gain a sense of control.
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
The key requirement of a savings plan is 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 benefit of using auto-deposit to implement a savings plan is that 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.
An emergency fund is a quantity of money set aside in case something bad happens.
How much should an emergency fund cover?(1 point)
Responses
one month’s expenses
one month’s expenses
three months’ expenses
three months’ expenses
six months’ expenses
six months’ expenses
twelve months’ expenses