Financial Literacy Tips by Alexander B. Raquepo
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Questions and Answers

According to the tips, what is the primary benefit of investing in cooperatives?

  • It offers higher returns than traditional investments.
  • It diversifies your investment portfolio.
  • It provides tax-free earnings and allows participation in governance. (correct)
  • It guarantees a steady stream of income.

    • Which of the following is recommended for building up share capital in a cooperative?

  • Regularly add small amounts over time. (correct)
  • Invest only when you have a significant amount saved.
  • Take out a loan to invest a large amount.
  • Make a one-time lump sum investment.

    • What is the advice regarding borrowing or availing loans?

  • Borrow for any purpose, as long as you can afford the payments.
  • Avoid borrowing or taking out loans entirely.
  • Borrow for personal expenses, such as vacations or luxury items.
  • Borrow only for productive and entrepreneurial purposes. (correct)

    • Which of the following is NOT recommended in the tips?

    <p>Spending more than you can earn and living on credit.</p> Signup and view all the answers

    What is the purpose of making an inventory of your monies and investments, according to the tips?

    <p>To compare and analyze your financial situation over time.</p> Signup and view all the answers

    What is the concept of 'living on interest' (LOI) as mentioned in the tips?

    <p>Spending only the interest earned on investments while keeping the principal intact.</p> Signup and view all the answers

    According to the tips, what is the significance of donating and sharing with communities and churches?

    <p>It is an indicator that you are financially capable and independent.</p> Signup and view all the answers

    What is the reason given for not gambling, according to the tips?

    <p>No specific reason is provided; the advice is simply 'do not gamble'.</p> Signup and view all the answers

    Which of the following is NOT mentioned as a recommended financial practice in the tips?

    <p>Investing in real estate and rental properties.</p> Signup and view all the answers

    Borrowing or availing of loans is strictly recommended for any purpose, according to the tips.

    <p>False</p> Signup and view all the answers

    Investing in various forms, types, windows, and programs of your credit union is recommended in the tips.

    <p>True</p> Signup and view all the answers

    Spending more than you can earn is considered simple mathematics and a safe financial practice, according to the tips.

    <p>False</p> Signup and view all the answers

    Donating and sharing with communities and churches is considered a good luck charm and an indicator of financial capability, according to the tips.

    <p>True</p> Signup and view all the answers

    The tips recommend that you should always gamble, as long as you are not pressured by peers or envious of your neighbor's winnings.

    <p>False</p> Signup and view all the answers

    According to the tips, one can become rich overnight like a big tree from a small seed.

    <p>False</p> Signup and view all the answers

    The tips recommend that individuals should spend 20% of their earnings and save the remaining 80%.

    <p>False</p> Signup and view all the answers

    The tips suggest that individuals should invest in business to help their money multiply.

    <p>True</p> Signup and view all the answers

    The tips advise against being lured by easy money and big dividend schemes when investing.

    <p>True</p> Signup and view all the answers

    The tips do not mention investing in real estate as a way to ensure a future income.

    <p>False</p> Signup and view all the answers

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