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How good are you really with money?

Take this fun quiz to put your online marketing knowledge to the test.

Quiz Questions

  • 1.
    How much of your salary should you save monthly?
    • A.
      About 10 to 15% of my salary
      (Correct Answer)
    • B.
      30% is the bare minimum
    • C.
      Just 5% is enough
  • 2.
    How much money should you save for emergencies?
    • A.
      3 months' worth of living expenses
    • B.
      The amount I spend in 2 months on food and medical costs
    • C.
      6 months' of my take-home pay
      (Correct Answer)
  • 3.
    How much of your salary should go toward paying your mortgage or rent?
    • A.
      Up to 30%
      (Correct Answer)
    • B.
      Between 30% and 39%
    • C.
      About 50%
  • 4.
    What's the most debt (excluding housing) you should carry as a percentage of annual salary?
    • A.
      At most 15% of my annual salary
      (Correct Answer)
    • B.
      At most 5% of my annual salary
    • C.
      About 20% of my annual salary
  • 5.
    How much do you think you need to earn to afford living in an executive condominium?
    • A.
      $30,000 per month is the bare minimum, or else forget it
    • B.
      $12,000 per month is the bare minimum, or else forget it
      (Correct Answer)
    • C.
      $9,000 per month is the bare minimum, or else forget it
  • 6.
    When do you usually pick your travel period?
    • A.
      When I find a discount on flight and accommodation
    • B.
      When I have enough savings and paid off most of my debt
      (Correct Answer)
    • C.
      When I get tired of work and life
  • 7.
    How much of your salary should you save for big-ticket items (such as travel, shopping and entertainment)?
    • A.
      35% is enough
    • B.
      20% is enough
      (Correct Answer)
    • C.
      25% is enough
  • 8.
    When should you start saving for your retirement?
    • A.
      I don’t know, it’s still too early to think about this.
    • B.
      Probably when I’m 50 years old
    • C.
      Probably when I’m 35 years old
      (Correct Answer)
  • 9.
    Which of these is the most important to buy?
    • A.
      Stocks
    • B.
      Insurance
      (Correct Answer)
    • C.
      Stocks
  • 10.
    Is it better to pay off credit card debt or to stash away savings?
    • A.
      Save the most and pay no more than the monthly minimums due on each card
    • B.
      I should pay off all my credit card debt fully before I save
    • C.
      Pay down my credit card debt at the same time as I save, paying off my highest-interest cards first
      (Correct Answer)

Quiz Outcomes

  • 1.
    0 to 3 correct:
    You’re so bad at money
    Seems like you’ve never done any financial planning in your life. You may have had the luxury of avoiding money management before because you had sponsors (parents) to pay for your expenses, but that could one day cause big problems in your life — if it hasn’t already. While you shouldn’t fret about every penny, you do need to take your finances seriously if you want to achieve big things. Thankfully there are tools like Balo, the savings app that gives you rewards, to take care of your foundational savings habits so you don’t have to overthink it.
  • 2.
    4 to 7 correct:
    You’re pretty good when it comes to money
    You’re doing great! While you may not feel like you’re in control of money, you’re on your way to a prosperous future. You may want to consider making a few tweaks to your money mindset and your habits so that you learn how to save more of what you earn. Good thing you are not alone. balo is a savings app that acts as your companion to make sure you stay on track to your financial goals while giving you generous rewards. Simply chose a savings plan that fits your lifestyle and let balo implement good financial habits automatically for you.
  • 3.
    8 to 10 correct:
    You’re a money expert
    Congratulations! You score higher than most people. You have a knack for understanding your finances and have a strong grasp of the real cost of living in Singapore. However, being financially savvy can be a pain to implement into your day-to-day. That’s where balo comes in. The savings app automates the best financial habits based on your lifestyle and goals so that you can focus on having fun instead of chasing every cent.