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Let’s face it: Life is expensive. So it’s hardly surprising that financial matters are a major source of stress in most households, regardless of income. In many instances, this stress stems at least in part from spending too much and saving too little. Is this the case for you? In honor of Financial Literacy Month, take this quiz to find out how savvy you are about saving money.

Did You Know?

In 2016, 69% of workers in the U.S. reported that they or their spouse saved money for retirement, an increase of 2% over the previous year.*







  • 1. HOW MUCH OF YOUR MONTHLY INCOME SHOULD YOU SPEND VS. SAVE?

    (A)You should save as much as possible

    (B)It should be a 50-50 split

    (C)You can spend 80% and save 20%

  • 2. YOUR EMERGENCY FUND SHOULD COVER LIVING EXPENSES FOR:

    (A)1 to 2 months

    (B)3 to 6 months

    (C)7 to 9 months

  • 3. WHAT PERCENTAGE OF YOUR ANNUAL INCOME SHOULD YOU TRY TO SAVE FOR THE FUTURE?

    (A)9% to 11%

    (B)12% to 15%

    (C)16% to 20%

  • 4. YOUR SAVINGS PLAN (INDEPENDENT OF RETIREMENT) OR HSA SHOULD ENCOMPASS THIS MANY YEARS:

    (A)5 years

    (B)10 years

    (C)15 years

  • 5. WHAT PERCENT OF PEOPLE IN THE U.S. EARN RETIREMENT BENEFITS AT WORK?

    (A)73%

    (B)63%

    (C)53%

  • 6. TO MAINTAIN YOUR CURRENT LIFESTYLE, YOU WILL NEED APPROXIMATELY THIS MUCH OF YOUR CURRENT INCOME FOR RETIREMENT:

    (A)80%

    (B)90%

    (C)100%

 

Did You Know?

Most Americans—62%!—have less than $1,000 in their savings accounts.**

 

 

 

 

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