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Questions and Answers
What is one of the key aspects of achieving financial well-being?
What is one of the key aspects of achieving financial well-being?
- Investing in real estate
- Purchasing gold
- Taking out a loan
- Creating a budget (correct)
What is the primary goal of financial planning?
What is the primary goal of financial planning?
- To accumulate wealth
- To reduce expenses
- To invest in mutual funds
- To achieve financial well-being (correct)
What is the main advantage of saving?
What is the main advantage of saving?
- Increasing spending power
- Providing a financial safety net (correct)
- Earning high returns on investment
- Reducing debt
What is the primary risk associated with inflation?
What is the primary risk associated with inflation?
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What is the main benefit of compound interest?
What is the main benefit of compound interest?
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Real estate investment can provide a steady income stream.
Real estate investment can provide a steady income stream.
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Inflation reduces the purchasing power of money.
Inflation reduces the purchasing power of money.
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All mutual funds are classified as debt or equity funds.
All mutual funds are classified as debt or equity funds.
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Health insurance only covers medical expenses related to accidents.
Health insurance only covers medical expenses related to accidents.
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The power of compounding only applies to short-term investments.
The power of compounding only applies to short-term investments.
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