Finance Literacy Final TCU (Locke) Questions and Correct Answers

Finance Literacy Final TCU (Locke) Questions and Correct Answers What is normally the most expensive kind of debt - Correct Answer Credit card debt True or false: A high detuctable means lower monthly premiums - Correct Answer True How many % of people don't have the savings to cover a $500 car repair or 1k medical bill - Correct Answer 63% What is the percentage of millennials that demonstrated basic financial knowledge? - Correct Answer 24% To be financially independent, romana says we should save for a _____ month goal - Correct Answer 5 True or false : You should us an automotive savings tool. (Automatically pull money into savings). Never do it manually. - Correct Answer True What is a fixed expenditure - Correct Answer Basics you need every month that you spend money on (house, car, food, bills, etc) How many months of your fixed expenditures should you save for your emergency fund? - Correct Answer 9 True or false: There should be a separate bank account for each financial goal you have. - Correct Answer True You should