Monday, 28 November 2011

Take the Financial Quiz: As seen on Steven and Chris

On the latest Steven and Chris I tested the audience's financial knowledge, with 5 easy, but very imortant questions about their monthly spending.

1. After rent or mortgage, what is the next highest monthly expense for North Americans?
  • a. Cable/internet/cell
  • b. Eating out/groceries
  • c. Transportation
 2. How much of your monthly income should be put into long-term savings?
  • a. 10 percent
  • b. 15 percent
  • c. 20 percent
 3. What expense category do monthly insurance premiums fall under?
  • a. Variable expense
  • b. Sunk cost
  • c. Luxury item
 4. You have an extra $300 at the end of the month after paying yourself and all of your bills. What should you do?
  • a. Deposit it in long-term savings
  • b. Spend it! You deserve a treat.
  • c. Put it towards your debt.
5. You own a new car. How much should you set aside each month for vehicle maintenance?
  • a. $0
  • b. $50
  • c. $100
 How did you do? Check all your answers here. 

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