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Quiz #2- Do You Know What You Don’t Know About Saving & Investing?

June 10, 2015

This week, it’s time to get smarter with saving and investing.saving_investing image

And, the sooner you start, the faster you’ll get to “financial freedom”! Even small amounts saved and invested can make a big difference to your wealth over time.

Here’s the second quiz in my series Tackling Personal Finance- Do You Know What You Don’t Know?

Same as last week, the intention here is to test your knowledge on the basics (not the obscure). This is stuff you need to know to achieve financial security and independence.

Knowledge IS power! Give the quiz a try and see how you do…

 

Quiz #2- Do You Know What You Don’t Know About Saving & Investing?

 


PS-  Last week’s quiz results were very encouraging…

The average score was 86% with several people scoring 100%! Questions most frequently answered wrong were;

#1.  Being in debt does not hurt your credit score as long as you pay your bills on time (False)

#3.  Three factors that have the greatest impact on your credit score are your payment history, if you’ve ever declared bankruptcy & how much money you owe (True)

#5.  Negative information that may affect your credit score can stay on your credit report for up to 7 years (True)

#10.  When deciding on whether to pay down debt or invest, consider interest rates on debt & investments, income tax consequences, job security, employer incentives & personal preferences (True)


 

Related Posts

Quiz #1- Do You Know What You Don’t Know About Credit & Debt

Investing- 4 Tips To See The Forest Through The Trees

Your Simple Financial Plan, Part 6- Save First, Invest Next

Building Wealth One Step At A Time

 

Proud founder of this blog Let’s Talk About Money, Patricia Gass, CPA, CA, provides personal finance coaching and education to improve your money skills. Follow her on linkedin, twitter or pinterest.

Photo courtesy of lightbulbfinancial.com

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One Comment
  1. Howto$tuffYourPig permalink

    This is correct! Time is your best friend when it comes to investing. It’s all about compound interest! Great post!

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