ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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so you can develop a habit when you are young.
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so that you can buy more candy later.
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so that you can get a credit card.
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when you are older.
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Detailed explanation-1: -Saving money is an important building block to financial independence. The earlier kids and teens start saving, the more likely it will become a habit. Saving early and often means kids and teens can take advantage of compound interest. Kids and teens can boost their savings by finding ways to earn more money.
Detailed explanation-2: -Make a budget. You’ve heard it before. Don’t wait to save and invest. Saving and investing may seem like a challenge right now, but putting away just a few dollars a week can have a big impact. Save one-third of your income. Start an emergency fund. Pay off your debt.
Detailed explanation-3: -Pay yourself first. If you wait to see what income is left over after paying expenses, you are less likely to save. Take advantage of bank technology. Pay your bills on time and pay more than the minimum amount. Determine needs versus wants. Shop around. Consider investments. Consult your local bank.
Detailed explanation-4: -Invest in the S&P 500 Index Funds. Invest in Real Estate Investment Trusts (REITs) Invest Using Robo Advisors. Buy Fractional Shares of a Stock or ETF. Buy a Home. Open a Retirement Plan-Any Retirement Plan. Pay Off Your Debt. Improve Your Skills.