Podcast
Questions and Answers
According to the 50 30 20 rule, what percentage of your income should be allocated towards needs?
According to the 50 30 20 rule, what percentage of your income should be allocated towards needs?
- 30%
- 50% (correct)
- 20%
- 10%
Which of the following is considered a want according to the text?
Which of the following is considered a want according to the text?
- Health insurance
- Dining out (correct)
- Utilities
- Groceries
What percentage of your income should be allocated towards wants according to the 50 30 20 rule?
What percentage of your income should be allocated towards wants according to the 50 30 20 rule?
- 30% (correct)
- 50%
- 10%
- 20%
What should the remaining 20% of your income be allocated towards according to the 50 30 20 rule?
What should the remaining 20% of your income be allocated towards according to the 50 30 20 rule?
How much of your income should be allocated towards savings and debt?
How much of your income should be allocated towards savings and debt?
What is the recommended amount to save for an emergency fund?
What is the recommended amount to save for an emergency fund?
What is the main reason why many Americans may suffer from retirement savings in the future?
What is the main reason why many Americans may suffer from retirement savings in the future?
What is the purpose of creating a monthly budget?
What is the purpose of creating a monthly budget?
True or false: The 50 30 20 rule suggests that 50% of your income should be allocated towards wants.
True or false: The 50 30 20 rule suggests that 50% of your income should be allocated towards wants.
True or false: Health insurance is considered a want according to the 50 30 20 rule.
True or false: Health insurance is considered a want according to the 50 30 20 rule.
True or false: Hobbies are considered needs according to the 50 30 20 rule.
True or false: Hobbies are considered needs according to the 50 30 20 rule.
True or false: The 50 30 20 rule recommends saving 20% of your income for emergencies.
True or false: The 50 30 20 rule recommends saving 20% of your income for emergencies.
True or false: According to the 50 30 20 rule, 30% of your income should be allocated towards savings and debt?
True or false: According to the 50 30 20 rule, 30% of your income should be allocated towards savings and debt?
True or false: An emergency fund should typically cover 6 to 12 months of living expenses?
True or false: An emergency fund should typically cover 6 to 12 months of living expenses?
True or false: Focusing on retirement savings is not important for most Americans?
True or false: Focusing on retirement savings is not important for most Americans?
True or false: Creating a monthly budget helps you understand where your after-tax dollars are going?
True or false: Creating a monthly budget helps you understand where your after-tax dollars are going?
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