Happy Friday y’all! Thought we’d start off the day with a fun little quiz on personal finance this morning ;) See if you’ve been doing your homework and behaving yourselves over there…
This one comes from GoBankingRates, and there’s 12 questions in total for you to answer. They range from pretty easy ones like these:
- “Is it a good idea to pay off your credit card balance completely every month?”
- “True or False: A 15-year fixed rate mortgage will typically require higher monthly payments than a 30-year mortgage, but you will pay less interest over the life of the loan.”
To more trickier ones like these:
- “What is the difference between Chapter 7 bankruptcy and Chapter 13 bankruptcy?”
- “True or False: You can go to jail for not paying your bills.”
But go through them all, and then get your score at the end and see if you’ve beaten me :) I got a 91% cuz I missed one of the trickier ones in there! Booooo…. it’ll also pop you out your own celebrity match – all depending on how well or not you did. It looks like I was a “Mark Zuckerberg!” (Hopefully *before* all that IPO mess happened, haha…) And here’s what that said about me:
If smarts equal success, you’re well on your way to a giant mansion with a Ferrari in the driveway. Few people can match your intellect when it comes to finance; just try not to rub it in – you’ll hold on to more friends that way.
There you have it folks, proof once and for all ;) Now your turn! Take the 12 question test and then send it to all your friends so you can beat them too. I know you BudgetsAreSexy readers are smart! And then have a great weekend afterwards, okay? We’ll be back on Monday to dish out even more financial awesomeness, as always… if I survive Wedding Reception #2 of #3 this season that is, jeez… everyone all of a sudden wants to get married! ;)
PS: If you want a much harder, much LONGER
quiz exam (I think like 40+ questions?), check out this one instead: CSM’s Personal Finance Quiz. I got to #15 and then had to bail when I realized it really wasn’t all that important in the end ;) But maybe you have a lot of extra time you’d like to kill today?
(Photo by CarbonNYC)
Bonus tip: Find a good "balance transfer" offer to help pay off debt faster!
If you’ve been making payment after payment (on time) and still haven't been able to get your debt under control, snatching up a good balance transfer credit card offer may be the ticket to try. That’s where in order to gain your business - credit card companies will let you transfer your existing debt to a new card and let you pay ZERO PERCENT interest on it. Saving you tons every month!
What's the catch? Usually balance transfer cards charge a fee (around 3% of your debt balance) to let you transfer your balance to their 0% interest offer. But we've found a great credit card that will let you do a balance transfer absolutely free. Click here to learn more and see if you qualify!
PS: If you don't trust yourself with another credit card, ignore this! This strategy is to help you get out of debt quicker, not risk adding more to it.