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Questions and Answers
What is the main reason for not spending more than you can earn?
What is the main reason for not spending more than you can earn?
- It's a method to avoid debt
- It's a moral principle
- It's a way to save for investments
- It's a simple mathematical concept (correct)
What is the recommended approach to managing loans?
What is the recommended approach to managing loans?
- Borrowing for any purpose
- Borrowing only for emergencies
- Avoiding loans altogether
- Borrowing strictly for productive and entrepreneurial purposes (correct)
What is the benefit of investing in various forms of credit union programs?
What is the benefit of investing in various forms of credit union programs?
- It reduces the liquidity of funds
- It increases the risk of investment
- It helps in diversifying investments (correct)
- It provides a guaranteed high return on investment
What is the purpose of making an inventory of one's monies and investments?
What is the purpose of making an inventory of one's monies and investments?
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What is the concept of living on interest (LOI)?
What is the concept of living on interest (LOI)?
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Why is donating to communities and church considered a good luck charm?
Why is donating to communities and church considered a good luck charm?
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What is the primary reason for not gambling?
What is the primary reason for not gambling?
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What is the recommended approach to managing unwanted properties or gadgets?
What is the recommended approach to managing unwanted properties or gadgets?
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Why is buying insurance considered practical and advisable?
Why is buying insurance considered practical and advisable?
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What is the main benefit of opening savings accounts for family members and enrolling them in credit unions?
What is the main benefit of opening savings accounts for family members and enrolling them in credit unions?
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