Money Quiz

[slow06]

Man, I though I would do better, guess Ive got some learning to do. 25 - scored 70%

I missed 4, 6, 8

4. I live in an apartment and have never had a mortgage, so other than knowing the difference in a fixed rate and an adjustable rate I don't know all that much about mortgages. I had no clue that you could borrow more with an ARM, I just though it made payments cheaper up front.

6. I guessed and said treasury bills, but honestly I have no idea what they are. I knew money market was wrong and I guess the word "balanced" threw me off of the stock answer, because in my mind balance helps avoid risk. Knowing what a treasury bill is would have helped.

8. Just got Roth and Traditional IRA's mixed up. I don't have either yet so I don't know all the ins and outs.

[Hobie]

Quiz Completed

Compare your score to the average for people in your age group in a recent nationwide survey:

Age:
25-29: 53%
30-34: 61%
35-39: 63%
40-44: 64%
45-49: 64%
50-54: 62%
55-59: 61%
60-64: 61%
65-69: 57%
70-74: 50%
75-79: 41%
80-84: 33%
85-89: 27%
90+: 13%

You scored 100%!

Give me your monies to manage faggots!

[Ratt]

Age 26, got 90%. I was confused by the tax deducted retirement account. It's not something I've really looked into yet.

[Tyrone Biggums]

90% - 34

Missed Q6.

Damn you Wu Tang Financial!

[AdamLX]

31 and 100%

The ARM question isn't exactly correct anymore though.

[GhostTX]

There are so many people older than us that don't have one dime saved for the future. I'm around people in their 50s that have worked out in Iraq since day one and don't have any money saved and nothing to show. Un-freaking-believable.

I would have to disagree. You're doing more with your money that YOU want to do than most. Most people spend beyond their means on things they think they want, yet end up miserable and in debt. Now, if you had a family, I'd side with your rationale a little more (just a little).

Ya, quite sad. There's a couple in our neighborhood living paycheck to paycheck on Social Security. It chaps me and saddens me when they come to us or one of the other neighbors for $20 for some groceries until the next paycheck. I'm saddened because they didn't plan for the future. I'm chapped because they've still got cable TV with every package and somehow bought a 50" HDTV.

I'm picking up what you're putting down, but if I get hurt or lose my job for more than a month or so, I'm fucked. But I am working on fixing that issue. One hard fast rule that I've always stood by is to NEVER have a credit card. I have expensive hobbies and impulse issues concerning said hobbies. If I were to get some plastic I'd have it maxed out in no time, I'm afraid.

I'll disagree on the credit card bit. We only use ours for online purchases which doing cash only is hard to do. The key is to pay it off every month.

<-- not a fan of using Debit cards online.

[Denny]

31 and 100%

The ARM question isn't exactly correct anymore though.

Right, but I knew what they were looking for.

[Roscoe]

34 - You scored 90%!

I got the last one wrong about disability, selected life insurance.

[suckerdin]

90% - 34

Missed Q6.

Damn you Wu Tang Financial!

lol.

[Grape]

I got a 40, thank god im a baller

[onemeangixxer7502]

I forget where I read but a huge majority of people hitting retirement age have less than 250 in the bank.

[flybye70ss]

100% 28

[racrguy]

Ya, quite sad. There's a couple in our neighborhood living paycheck to paycheck on Social Security. It chaps me and saddens me when they come to us or one of the other neighbors for $20 for some groceries until the next paycheck. I'm saddened because they didn't plan for the future. I'm chapped because they've still got cable TV with every package and somehow bought a 50" HDTV.


I'll disagree on the credit card bit. We only use ours for online purchases which doing cash only is hard to do. The key is to pay it off every month.

<-- not a fan of using Debit cards online.

Don't debit cards, when used like a credit card (online purchases) offer the same protections?

[LaserSVT]

80% 36

[Snatch Napkin]

I got 80% and I'm 32.

I knew exactly which ones I missed right after I hit finish quiz. I would have done better if I wasn't at work with customers.