SAVING BASICS
What do we call money set aside for unexpected expenses such as medical bills or car repairs?
Emergency fund
What is the process of putting money into an asset with the expectation of earning a return called?
Investing
What type of bank account is primarily used to store money while earning interest or profit?
Savings account
What is a plan for managing your income and expenses called?
Budget
You have RM500 and spend RM300. How much money do you have left?
RM200
If you earn RM2,000 and save RM400, what percentage of your income did you save?
20%
What is the term for spreading your money across different investments to reduce risk?
Diversification
What do we call the money earned from keeping money in a conventional savings account?
Interest
Which is a "need": food or a new gaming console?
Food
You save RM150 every month. How much will you save in 8 months?
RM1,200
If you save RM200 every month for one year, how much will you have saved?
RM2,400
Which generally has greater investment risk: stocks or a savings account?
Stocks
What is the term for the minimum amount of money required to open or maintain certain bank accounts?
Minimum balance
If your monthly income is RM3,000 and your expenses are RM2,400, how much money is left?
RM600
You invest RM2,000 and earn a 5% return. How much profit do you make?
RM100
You want to save RM6,000 in 12 months. How much must you save each month?
RM500
You invest RM1,000 and receive RM100 in profit. What is your return on investment (ROI)?
10%
Bank A offers 2% interest and Bank B offers 3% interest. If you deposit RM10,000 for one year, how much more interest would Bank B give you?
RM100
You earn RM2,500 per month and spend RM2,000. What percentage of your income are you spending?
80%
You have RM10,000 to invest. You put RM5,000 into Investment A and RM5,000 into Investment B. What investment strategy is this an example of?
Diversification
You have RM10,000 and keep it in an account earning 3% simple interest per year. How much interest will you earn after one year?
RM300
An investment grows from RM5,000 to RM5,750. What is the percentage increase?
15%
A bank charges RM5 per month for an account. How much would you pay in fees over one year?
RM60
If you have RM4,000 in savings and your monthly essential expenses are RM2,000, how many months of expenses can your savings cover?
2 months
You have RM20,000. You invest RM8,000 and keep RM12,000 in savings. What percentage of your money did you invest?
40%