Saving Money quiz

More questions about Saving Money

These visible examples show the question style. LearnClash turns the full topic into ranked duels and spaced repetition.

1. 1 Easy

   What is a savings deposit locked away for a fixed time called?

   Answer: Term deposit

   Why: Its opposite, a demand deposit, lets you withdraw money at any time without notice.

2. 2 Medium

   What did a 2011 study show people that made them save more?

   Answer: Their aged faces

   Why: In one experiment, those who saw their aged selves put about twice as much into long-term savings.

3. 3 Hard

   What do South Africans call a rotating savings club?

   Answer: Stokvel

   Why: The name comes from stock fairs, the rotating cattle auctions of English settlers in the Eastern Cape in the early 1800s.

4. 4 Easy

   Which effect got staff to save more 'after your next birthday'?

   Answer: Fresh start effect

   Why: Dates without a new-beginning feel, such as Valentine's Day, did not raise saving in the same study.

5. 5 Medium

   About what share of income did euro-area households save in spring 2020?

   Answer: About a quarter

   Why: Household spending fell 12.6% that quarter while income dropped only 3.3%, so the saving rate jumped.

6. 6 Hard

   Into how many parts does the Talmud tell you to split your money?

   Answer: Three

   Why: The rule puts one third in the ground, one third into business and keeps the last third at hand.