Archive for Financial Quizzes
Kiplinger Financial Truth or Bunk-Round 2, Question 6
Posted by: | CommentsTrue or False. To protect yourself from identity theft, don’t sign the back of your card.
False. An unsigned card will cause you trouble at the cash register — you’ll have to show photo ID for the cashier to accept your payment. Besides a thief could simply sign your card himself for unauthorized purchases, and then the card signature would match the signatures on the receipts.And don’t do this either: I was rollerblading one day in Palm Springs and found a debit card in the street. When I got back to my car, I turned the card over to get the 800 number on the back so I could call and report the lost card… and there was the PIN written in the signature block! If someone else found it, it could have been a far different outcome.
Kiplinger Financial Truth or Bunk-Round 2, Question 4
Posted by: | CommentsSorry — I dropped the ball! My Mom was ill and I was fortunate enough to be able to take care of her — but it meant my business went on the back burner for a couple of months. I’m back, so I’ll get the rest of these out in the next couple of days.
True or False: For retirement, you need to save ten times your final salary.
FALSE. That’s a nice start, but you may need more. This figure is like picking a number out of the air. Retirement is personal and what you need will vary depending on your plans and situation.
It also depends on how long you live! MAP suggests you use a retirement calculator. There are good ones available at Kiplinger and Bankrate.
Kiplinger Financial Truth or Bunk-Round 2, Question 2
Posted by: | CommentsBuying a home is always better than renting.
False. Renting is not akin to flushing your money down the toilet. You’re paying for something valuable that you need: a roof over your head. Besides, buying a home doesn’t make sense for everyone. You have to be prepared to make a long-term commitment. Plus, you have to make sure you can afford not only the mortgage payment, but all the extra costs that come with a place of your own.
To see the entire quiz: http://content.kiplinger.com/quiz/truth_bunk_2/index.html?qid=33
So, what are those extra costs? Not just taxes and insurance — what about maintenance/replacement of paint, roof, windows, AC-Heating, Plumbing, Electrical, appliances. http://MoneyAwarenessProgram.com
