Each day during Money Smart Week we’ll be bringing you resources and tips on becoming and staying Money Smart. We’ll follow the MyMoney Five principles for managing your money, each day focusing on a different principle. The Five Principles are: Earn, Borrow, Save & Invest, Spend, and Protect.
Before we delve too deeply, though, we need to figure out how much we already know. Try your hand at the quizzes below to see where you stand on each of the MyMoney Five.
Earn– More than just that figure on your paystub, the Earn principle includes taxes, workplace benefits, and job training and education to increase your income.
Borrow– Borrowing money is often the only way to obtain big purchases like cars, houses, and a college education, but borrowing too much can be detrimental to your financial health.
Save & Invest– A little money can turn into a lot with savvy savings and investment strategies.
Spend– You have to spend money sometimes, but you can learn to do it the right way by shopping around.
Protect– Protect yourself from financial emergencies with the right insurance and sufficient savings.
Don’t worry. You’re not being graded, and we won’t know your score. But you can let us know how you did in the comments here on the blog or on our Facebook and Twitter accounts. Which principle did you know the most about? Which quiz was the most difficult for you?