Quiz On Financial Statistics
1. The average current percentage of their income that Canadians save is:
a) 5%
b) 7.5 %
c) 10%
Answer: Will be provided at the Workshop
2. In 2005, the average per capital debt of Canadians was:
a) $13,000
b) $23,000
c) $33,000
Answer: will be provided at the Workshop
In 2010?_________
3. The first step in managing your money is knowing where it’s coming and where it’s going out – and making sure the ‘in’ exceeds the ‘out’ so you have enough for your needs, and can save and invest for your future. There is nothing difficult about a budget. Budgeting does not mean doing without. It’s just an organized way to manage your money.
4. Recognize the danger signals:
- You use your credit cards as a necessity instead of a convenience
- You use credit or cash advances for your daily living expenses
- You miss payments or due dates
- You’re near the credit limit on most of your cards
- You borrow from one card to pay another
- You transfer balances every few months just before the introductory offer expires