Question

Financial Literacy Unit Test
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Question
Joyce is in the sixth grade and is unsure if she wants to go to college or not. She knows that it is important, however, to save for the possibility. Which of the following is the best strategy to start saving money?(1 point)
Responses

Ask friends and family for money.
Ask friends and family for money.

Sell her belongings for extra money.
Sell her belongings for extra money.

Put all extra money into a savings account.
Put all extra money into a savings account.

Put 10% of any money she earns into a savings account.
Put 10% of any money she earns into a savings account.
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Answer 1

The best strategy for Joyce to start saving money is to **put 10% of any money she earns into a savings account**. This approach encourages consistent saving habits and helps her accumulate funds over time, which is crucial for her potential future educational expenses.