Q1. You’ve been asked to perform a 30-day spending audit. What is the first and most important step in that audit?
Q2. Which of these is the best advice for setting your initial 'pay yourself first' savings percentage?
Q3. If you invest $100 per month at an average annual return of 7%, which statement best illustrates the impact of time horizon (assuming monthly contributions):
Q4. For a beginner who wants to get started investing with low cost and broad diversification, which option is most appropriate?
Q5. You have $500 in an emergency buffer and you’ve automated saving 5% of your paycheck. Your friend says you must save at least 6 months of expenses before investing anything. According to the course, what should you do?
Q6. Which tactic best targets small recurring leaks (the silent drains on your budget)?
Q7. Which is the most useful single metric to track for measuring savings consistency and progress toward scaling savings?
Q8. Which best practice will make your 'pay yourself first' system most reliable?
Q9. You categorize these monthly transactions: Rent $1,200; Groceries $250; Netflix streaming $12; Daily coffee $4/day (~$120/month). Which items are best classified as small recurring 'leaks' to address first?
Q10. Scenario: Your take-home pay is $3,500/month. You decide to start a 5% automated pay-yourself-first transfer and identify three small leaks that together save $45/month after eliminating them. If you transfer your automated savings plus the leak savings into a low-cost investment account next month, how much will you invest?