UNCOMMON CENTS 64

TIME FOR THE 1ST SEMESTER FINANCES TEST.

1. WHO DO YOU PAY FIRST?

2. WHAT IS THE BEST METHOD OF MAKING PURCHASES?

3. WHAT'S THE 3RD 'ROAD TO WEALTH' RULE?

4. HOW MANY MONTHS CASH RESERVE SHOULD YOU PUT INTO THE BANK?

5. WHAT PERCENT OF SALARY SHOULD YOU SAVE EACH MONTH?

6. IS A 401K AN INVESTMENT ACCOUNT? EXPLAIN.

7. SHOULD YOU INVEST? a. in a savings account, or
b. the stock market

8. IF ANS. TO 7 IS b. WHAT KINDS OF MUTUAL FUNDS DO YOU RECOMMEND FOR STOCKS?

9. IF ANS. TO 7 IS a. WHAT ALTERNATIVE TO A SAVINGS ACCOUNT WOULD YOU RECOMMEND?

10. WHICH QUESTION IS MOST INFLUENTIAL OUT OF THESE TOP 10?

AFTER THIS TOP 10 COUNTDOWN - LIKE DAVID LETTERMAN'S HUMOROUS SCALES - YOU MIGHT ASK YOURSELF WHETHER HOME, AUTO OR LIFE INSURANCE ARE NECESSARY. YOU MIGHT ASK YOURSELF IF YOU NEED A WILL EVEN AT AN EARLY AGE. HINT: 3 OUT OF THESE 4 ARE MUST HAVE'S.

ESSAY QUESTION: CITE 10 EXAMPLES OF YOUR SILLY SPENDING. FOR EXAMPLE, I SIGHTED A TRUCK THAT ARRIVED 6 TIMES (HAVING LEFT 6 TIMES ) AT A NEARBY BARN WITHIN A 4 HOUR PERIOD THIS MORNING. WHERE DID THE DRIVER GO? AT $2.00 A GALLON FOR GAS, WHAT WAS THIS DRIVER THINKING? OR WAS HE?