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3.2 Challenges to Saving

  •  English    10     Public
    NGPF 3.2
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  • What is a good approximate amount to have in your emergency fund?
    3-6 months of savings
    3-6 years of savings
    3-6 weeks of savings
    3-6 days of savings
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  • 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.
    TRUE
    FALSE
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  • 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.
    Cashless Bias
    Inflation
    FOMO
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  • Which saving strategy did most people say was most effective?
    Saving $35 per week
    Saving $5 per day
    Saving $150 per month
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  • What is our coping skills of the day?
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  • common term for those who don't have enough money to pay for future expenses until their next paycheck arrives
    Cashless Bias
    Living Paycheck to Paycheck
    FOMO
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  • the rate of increase in prices over a given period of time.
    FOMO
    inflation
    Living Paycheck to Paycheck
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  • All of the following are challenges to saving EXCEPT
    Paying Yourself First
    Impulse Buying
    Credit Cards
    Social Media
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  • You should keep your emergency fund in your checking account
    TRUE
    FALSE
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  • Which of these is a good reason to tap into your emergency fund?
    $500 deductible after a car accident
    paying your cell phone bill
    buying books for college
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