10 Questions
What is the primary strategy recommended for starting to build wealth?
Spend no more than 80% of your earnings and save the rest
Which of the following is NOT recommended in the text as a way to control expenditures?
Take out loans to fund desired purchases
What is suggested as the best way to make your money multiply, according to the text?
Start a business with your savings
Which investment strategy is warned against in the text?
Investing in schemes promising easy money and big dividends
What is highlighted as a key benefit of investing in cooperatives?
Earnings are tax-free
Which of the following is NOT recommended as a financial strategy?
Borrowing or availing loans for non-productive or non-entrepreneurial purposes
What is the purpose of making an inventory of one's monies and investments, according to the text?
To make comparisons, analyze performance, and potentially create a cash flow statement
What is the rationale behind donating and sharing with communities and churches?
It is considered a good luck charm that will bring financial prosperity
What principle does the text emphasize regarding spending habits?
Spend only what you can earn, as spending more than you earn is a dangerous setup
Which of the following strategies is NOT recommended in the text?
Gambling, even if enticed by peers or envious of others' wins
Learn useful tips for increasing your wealth such as fattening your wallet, controlling expenditures, and making your money multiply. Discover practical advice on saving, budgeting, and wise spending to help you achieve financial success.
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