What is a good approximate amount to have in your emergency fund?
3-6 months of savings
3-6 days of savings
3-6 weeks of savings
3-6 years of savings
In order to not lose purchasing power over time, the rate of return for saving should be at least as high as the rate of inflation.
FALSE
TRUE
the human behavior of wanting to spend more because we see others around us spending more and enjoying goods and services that we think we would enjoy as well.
FOMO
Inflation
Cashless Bias
Which saving strategy did most people say was most effective?
Saving $5 per day
Saving $150 per month
Saving $35 per week
What is our coping skills of the day?
common term for those who don't have enough money to pay for future expenses until their next paycheck arrives
FOMO
Living Paycheck to Paycheck
Cashless Bias
the rate of increase in prices over a given period of time.
Living Paycheck to Paycheck
inflation
FOMO
All of the following are challenges to saving EXCEPT
Credit Cards
Paying Yourself First
Impulse Buying
Social Media
You should keep your emergency fund in your checking account
TRUE
FALSE
Which of these is a good reason to tap into your emergency fund?
$500 deductible after a car accident
buying books for college
paying your cell phone bill
