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Questions and Answers
What does Warren Buffett suggest about saving and spending?
What does Warren Buffett suggest about saving and spending?
- Save only when there is excess money
- Save what is left after spending
- Spend what is left after saving (correct)
- Spend before saving
What is the impact of 5% yearly inflation on expenses over 20 years?
What is the impact of 5% yearly inflation on expenses over 20 years?
- ₹80,000
- ₹1,20,000
- ₹1,00,000 (correct)
- ₹60,000
Why is investing suggested as a safeguard against inflation?
Why is investing suggested as a safeguard against inflation?
- Inflation erodes the value of savings (correct)
- Investing reduces expenses
- Investing guarantees high returns
- Inflation does not affect investments
What is the practice of assessing one’s current financial situation and drawing a financial plan to reach future life-stage goals called?
What is the practice of assessing one’s current financial situation and drawing a financial plan to reach future life-stage goals called?
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What are the steps involved in financial planning?
What are the steps involved in financial planning?
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