8
Becoming Money $mart
Your
Financial IQ
Before you read this chapter, answer the following questions to see how much you
already know about fi nancial planning and investing.
1. What does it mean to save money? What does it mean to invest money?
How are these two things similar, yet different?
2. What does it mean to be fi nancially independent?
3. What does fi nancial planning mean?
4. Are you saving money now? If so, how long have you had a savings account?
What rate of interest are you earning? How often is the interest being compounded?
5. Do you keep track of how much you spend each week and how much you
save? How would this impact your fi nancial goals?
6. What does fi nancial literacy mean to you? Why will this be important in
your goals and plans for the future?
7. What is the best way to build wealth? When should you start?
8. How important is having your own spending money?
9. By tracking how you spend your money, do you think you could spend
your money more wisely?
10. What items could you do without now in order to begin saving more
money for your future?
Before you
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