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Quiz: Are You a Savvy Saver? (Financial Literacy)
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<section> <h2> <h2>Quiz: Are You a Savvy Saver? (Financial Literacy Quiz)</h2> </h2> Mortgages, credit card payments, investments - money makes the world go around. And knowing a few key basics can save you a LOT of cash down the road. Put your financial literacy to the test! </section> <section> <h2> <h2>Imagine you have $200 in savings - earning 3% interest each year.</h2> <h2>After four years, how much would you have?</h2> </h2> </section> <section> <h3> <h2>True or false: Investing in a single company's stock is usually safer than investing in a mutual fund.</h2> </h3> </section> <section> <h3> <h2>Let's say your savings account pays 2.5% interest per year but annual inflation is 3.5%.</h2> <h2>After a year, how much purchasing power would your money have?</h2> </h3> </section> <section> <h3> <h2>Choosing a 20-year mortgage means you'll pay higher monthly payments than a 30-year mortgage - but you'll pay less total interest.</h2> </h3> </section> <section> <h3> <h2>When interest rates rise, what normally happens to bond prices?</h2> </h3> </section> <section> <h3> <h2>Assume you borrowed $10,000 with a 20% interest rate (compounded annually).</h2> <h2>Making no loan payments, how long would it take for the amount you owe <span style="text-decoration: underline;">to double</span>?</h2> </h3> </section> <section> <h2> <h2>You're a 'starting out saver'!</h2> </h2> Ouch – you might be a little disappointed by your quiz score. But don’t worry – 76% of people surveyed scored 40% or less in this financial literacy quiz. Mortgages, loans, credit cards, and investments – that’s a lot to worry about (and learn!). <strong><span style="font-size: 16px;"></span></strong> </section> <section> <h3> <h2>You're a savvy saver!</h2> </h3> Nice work! Sure, you might have missed a couple of questions – but you still are much more financially literate than 76% of people surveyed. Being financially literate is just the start. The financial world is ever-evolving – and smart consumers stay up to date about the latest changes for mortgages, credit cards, and investments. </section> <section> <h3> <h2></h2> <h2>You're a financial phenom!</h2> </h3> Wow – well, you sure proved you know all about the impact of inflation and interest rates on everything from investments to mortgages and credit cards. (Are you an accountant?) But don’t get too cocky – the financial world is always changing, with new financial loans and other tools. Savvy savers stay don’t rest on their laurels – they stay up to date with all the latest, to make sure they’re making the best financial decisions for them and their families. </section>
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