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