Money Management Concept
What is the opportunity cost of saving money?
A) Less fun now
B) More debt
C) Less risk
A) Less fun now
Which of these should be saved digitally on your computer?
A) Past budgets
B) Gift cards
C) Coupons
A) Past budgets
What does it mean to be insolvent?
A) You are rich
B) You can't pay debts
C) You overspent RM10
B) You can't pay debts
What happens if your expenses are more than income?
A) Positive cash flow
B) Negative cash flow
C) Break even
B) Negative cash flow
What’s the first step in creating a budget?
A) Shop
B) Set financial goals
C) Cut all spending
B) Set financial goals
What is a hidden cost of comparing prices?
A) Less money
B) Lost time
C) Higher bills
B) Lost time
How long should you keep tax return documents?
A) 1 year
B) 6 years
C) Forever
B) 6 years
Which is considered an asset?
A) Credit card bill
B) Car
C) Student loan
B) Car
What’s an example of income?
A) Loan repayment
B) Shopping
C) Salary
C) Salary
What is "pay yourself first" about?
A) Buy something
B) Save before spending
C) Pay your friend
B) Save before spending
What financial document shows what you own and owe?
A) Resume
B) Balance Sheet
C) Pay slip
B) Balance Sheet
What’s an example of a home financial record?
A) Game scores
B) Insurance policy
C) Grocery list
B) Insurance policy
What’s a way to increase your net worth?
A) Spend more
B) Borrow more
C) Pay off debt
C) Pay off debt
What’s an example of a variable expense?
A) Loan installment
B) Grocery shopping
C) Rent
B) Grocery shopping
Which of the following helps build a habit of saving?
A) Saving randomly
B) Saving only in December
C) Automatic savings
C) Automatic savings