Money Through Life's Big Moments: Checkpoint 1

Quick checkpoint - five questions on first jobs, moving out, buying a car, weddings, babies and job loss.

Question 1 of 5 What does paying yourself first mean?

Spending your salary on yourself before bills Saving automatically as soon as your pay arrives, before spending Asking for a raise Paying your employer

Automatic saving on payday builds the habit before money is spent.

Question 2 of 5 Which cost do people often forget when moving out?

Rent Upfront costs like deposits, broker fees and furniture Nothing is ever forgotten Their old bedroom

Upfront costs can add up to several months of rent.

Question 3 of 5 Why can a longer car loan cost more overall?

Monthly payments are higher More interest is paid over the longer period Cars get more expensive It never costs more

Lower monthly payments can hide a much higher total cost.

Question 4 of 5 Which is a sensible first step in planning a wedding?

Borrow as much as possible Set a total budget based on what the family can afford Invite everyone you know Buy jewellery first

Setting a budget and priorities helps avoid high-cost debt.

Question 5 of 5 After losing a job, what should you do with spending?

Keep spending normally Cut to essential spending immediately to stretch savings Spend more to feel better Take a payday loan

Cutting early extends how long savings last.

← Back to What to Do When You Lose Your Job Next lesson → Moving Abroad: Money Across Borders

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