Financial Wellness • Mercer County, WV

10 questions • Complete the quiz to finish this module.

Question 11 / 10

In the 50/30/20 rule, what is the 50% for?

A. Fun and entertainmentB. Saving and investingC. Needs like housing, food, utilities, and transportationD. Paying off credit card debt

Question 22 / 10

How much should you keep in emergency savings?

A. One month of expensesB. 3-6 months of expensesC. One year of expensesD. 5% of your income

Question 33 / 10

What is the biggest factor in your credit score?

A. How many credit cards you haveB. Your incomeC. Payment historyD. Your age

Question 44 / 10

Which method pays off debt fastest?

A. Snowball (smallest debt first), then avalanche (highest interest first)B. Paying all debts equally regardless if the interest rateC. Ignoring small debts and taking out other loans to pay bigger debtsD. Asking friends for money to pay debts

Question 55 / 10

Where can you get your free credit report?

A. Your bankB. AnnualCreditReport.comC. A credit card companyD. A payday lender

Question 66 / 10

When should you pay your credit card balance?

A. A card can be paid off after one year since I have low interest on it you use at secure websites.B. A credit card should be paid off weekly, so that the debt doesn't add up.C. A credit card should be paid off monthly, if possible the full balance should be paid.D. A card payment can go ignored until I need a loan.

Question 77 / 10

Why should you avoid payday loans?

A. They are illegalB. They charge 400%+ interest and create a debt trapC. Banks will not give you a mortgage if you have oneD. They require a cosigner

Question 88 / 10

What is identity theft?

A. Forgetting your passwordB. Having too many credit cardsC. Losing your walletD. Someone uses your personal information to commit fraud

Question 99 / 10

What is a good way to save money on a tight budget?

A. Auto-transferring a small amount to savings on paydayB. Waiting until the end of the month to saveC. Only saving when you feel like itD. Borrowing money to invest

Question 1010 / 10

What is the main purpose of a budget?

A. To limit how much money you can spendB. To plan your spending and reach your financial goalsC. To pay less in taxesD. To impress your bank when you need a loan

RISE

Support, skills, and local resources for every step forward.

givedirectly.org/support

855-599-8574