14 Questions
What is the recommended percentage of take-home pay to be allocated to savings in the 50-20-30 budgeting rule?
20%
According to the Securities Commission Malaysia survey, what did it reveal about Malaysian youths' financial literacy?
Low knowledge of capital market products
What is the main purpose of the 50-20-30 budgeting rule?
Balancing 'need' and 'want' expenditures
Which term is used to describe windfalls such as a raise, bonus, or tax refund?
Unexpected income
What is the primary purpose of developing habits for spending less than you earn?
To avoid financial challenges
What is the significance of prioritizing 'I want' and 'I need' expenditures in a spending plan (budget)?
It helps in minimizing discretionary spending
What percentage of Malaysian youths' income is being set aside for savings and investment?
8%
Why do the lower-income segment feel financially stressed?
They have no surplus for investment after setting aside cash for emergencies
What are Malaysian youths more aware of, compared to capital market products?
Banking products and services
What is the popular capital market product among Malaysian youths?
Unit trust
What percentage of pretax income should be saved for retirement according to the 50/15/5 spending rule?
15%
What percentage of take-home pay should be allocated to essential expenses according to the 50/15/5 spending rule?
50%
Which of the following is considered an essential expense according to the 50/15/5 spending rule?
Takeout or restaurant meals
What should be kept below 50% according to the 50/15/5 spending rule?
$200 monthly utility expenses
Test your knowledge of spending and saving habits with this quiz based on EBU 1063 Smart Money Management Lecture 4. Explore questions about developing habits for spending less than you earn, saving for the future, following a spending plan, and more.
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