Asked by Lora

What is the benefit of having financial security?(1 point)
Answered by Lora
What is the benefit of having financial security?(1 point)
Responses

ability to avoid stress and gain a sense of control
ability to avoid stress and gain a sense of control

ability to stop saving money
ability to stop saving money

ability to quit working and enjoy yourself
ability to quit working and enjoy yourself

ability to spend as much as you
Answered by Lora
What is a key requirement of a savings plan?(1 point)
Answered by Lora
What is a key requirement of a savings plan?(1 point)
Responses

to prioritize saving regularly without exception
to prioritize saving regularly without exception

to save any money that has not been spent
to save any money that has not been spent

to prioritize saving money when it is convenient
to prioritize saving money when it is convenient

to save money whenever you are at the bank or an ATM
Answered by Lora
Which is a benefit of using auto-deposit to implement a savings plan?(1 point)
Responses

Auto-deposit insulates the saver so that they do not have to change their behaviors.
Auto-deposit insulates the saver so that they do not have to change their behaviors.

The deposit occurs automatically, so there is less temptation to spend the money.
The deposit occurs automatically, so there is less temptation to spend the money.

Using auto-deposit removes the responsibility from the saver.
Using auto-deposit removes the responsibility from the saver.

There is little inherent benefit to using auto-deposit.
Answered by Lora
Which option describes an emergency fund?

(1 point)
Responses

Low-risk investments in case something bad happens.
Low-risk investments in case something bad happens.

A quantity of money set aside in case something bad happens.
A quantity of money set aside in case something bad happens.

A quantity of money set aside for an expense that you anticipate, such as buying a car or a house.
A quantity of money set aside for an expense that you anticipate, such as buying a car or a house.

A mutual fund that gives you an annual return to grow for retirement.
Answered by Lora
How much should an emergency fund cover?(1 point)
Responses

one month’s expenses
one month’s expenses

three months’ expenses
three months’ expenses

six months’ expenses
six months’ expenses

twelve months’ expenses
Answered by GPT 3.5
The benefit of having financial security is the peace of mind and reduced stress that comes with having enough money to cover expenses and unexpected emergencies.
Answered by GPT 3.5
want without worrying about running out of money
ability to spend as much as you want without worrying about running out of money
Answered by GPT 3.5
A key requirement of a savings plan is discipline.
Answered by GPT 3.5
to prioritize saving regularly without exception
Answered by GPT 3.5
The deposit occurs automatically, so there is less temptation to spend the money.
Answered by GPT 3.5
A quantity of money set aside in case something bad happens.
Answered by GPT 3.5
The appropriate amount for an emergency fund to cover is typically three to six months' worth of expenses.