Kiplinger quiz

sweeps · #1 (**permalink**) 05-21-2008, 09:15 AM

How well-versed are you in the financial forces on your pocketbook, from taxes and credit to saving and money management?

Put your knowledge of the basics to the test with our fun and informative 12-question quiz -- and compare your score with other Kiplinger.com readers.

Test Your Financial Fluency

Broken Arrow · #2 (**permalink**) 05-21-2008, 09:25 AM

Bah. Only 10 out of 12.

Ima saver · #3 (**permalink**) 05-21-2008, 09:31 AM

I got them all right, but they were pretty easy!!

jIM_Ohio · #4 (**permalink**) 05-21-2008, 09:40 AM

12 of 12, but you have to challenge me more than that.

sweeps · #5 (**permalink**) 05-21-2008, 09:50 AM

Quote:

Originally Posted by jIM_Ohio

12 of 12, but you have to challenge me more than that.

Ok, here you go. Part 1 | Part 2

jIM_Ohio · #6 (**permalink**) 05-21-2008, 09:57 AM

Here are some quizzes which are similar

Investment Knowledge Quiz

Path to Investing — Leading the Way to Financial Knowledge — Investor Education, Tools, Games & Resources
(try the investing essentials quiz- I got 14 of 18 and the tax quiz- I got 14 of 14)

There was a quiz I was looking for but did not find. Talked about what a bond was, how interest rates worked and similar.

jIM_Ohio · #7 (**permalink**) 05-21-2008, 10:07 AM

Quote:

Originally Posted by sweeps

Ok, here you go. Part 1 | Part 2

I want quizzes, not homework. Most of information in those quizzes in academic and not realistic or practical.

disneysteve · #8 (**permalink**) 05-21-2008, 11:49 AM

Quote:

Originally Posted by jIM_Ohio

12 of 12, but you have to challenge me more than that.

Same here, but basic financial knowledge quizzes like that are really useful for a lot of people. They should give an expanded version of that in middle school and high school in conjuction with lessons in personal finance. It will eliminate a great many problems.

jIM_Ohio · #9 (**permalink**) 05-21-2008, 12:15 PM

Quote:

Originally Posted by disneysteve

Same here, but basic financial knowledge quizzes like that are really useful for a lot of people. They should give an expanded version of that in middle school and high school in conjuction with lessons in personal finance. It will eliminate a great many problems.

Would it?

Might help 10% of population. The probability I paid attention to anything other than girls, sports or the next party in HS would have been minimal.

jIM_Ohio · #10 (**permalink**) 05-21-2008, 12:33 PM

This forum could make up a better quiz than this. I was just perusing the web site and I think a similar quiz, with better questions, would be helpful.

disneysteve · #11 (**permalink**) 05-21-2008, 12:39 PM

Quote:

Originally Posted by jIM_Ohio

Would it?

Might help 10% of population. The probability I paid attention to anything other than girls, sports or the next party in HS would have been minimal.

Not saying it would help everyone or eliminate all problems, but I think it would help a lot. Look how many people come here telling their stories and admitting that they have zero knowledge of how things work or how to manage money. Surely, if they had gone through a class where credit card debt was explained, compound interest was illustrated, term vs. whole life was detailed, etc., some of those folks would never have gotten themselves into the situation they now find themselves in.

It certainly couldn't hurt.

AmbitiousSaver · #12 (**permalink**) 05-21-2008, 12:49 PM

9 out of 12... guess I'm in the 70% ranking

AmbitiousSaver · #13 (**permalink**) 05-21-2008, 12:55 PM

Quote:

Originally Posted by disneysteve

Not saying it would help everyone or eliminate all problems, but I think it would help a lot. Look how many people come here telling their stories and admitting that they have zero knowledge of how things work or how to manage money. Surely, if they had gone through a class where credit card debt was explained, compound interest was illustrated, term vs. whole life was detailed, etc., some of those folks would never have gotten themselves into the situation they now find themselves in.

It certainly couldn't hurt.

I'd certainly have paid attention. I could see it being extremely beneficial to people like myself where your parents just didn't talk about money... it was rude. My first real interest in money came when I was 12 and my step-dad taught me about compounding interest. But that was all I was ever taught.

Nothing about the values and importance of saving for retirement or other investment vehicles. My first knowledge of a depreciable asset was when I was 21 and taking a college level accounting course. And even still, now that I know I should save for retirement and different types of accounts available. I'm still relatively clueless as to WHAT to invest in and how to pick investments. But I'm trying to learn even though there are days I just feel flat out lost... and I'm in my mid-twenties.

I truly envy those of you who grew up with financially saavy parents or are naturally that way. I'm attempting to hopefully raise my kids to be more educated about money than I was.

jIM_Ohio · #14 (**permalink**) 05-21-2008, 12:55 PM

Quote:

Originally Posted by disneysteve

Not saying it would help everyone or eliminate all problems, but I think it would help a lot. Look how many people come here telling their stories and admitting that they have zero knowledge of how things work or how to manage money. Surely, if they had gone through a class where credit card debt was explained, compound interest was illustrated, term vs. whole life was detailed, etc., some of those folks would never have gotten themselves into the situation they now find themselves in.

It certainly couldn't hurt.

I agree it could not hurt. But because something does not hurt does not mean it would help.

Donald Rumsfeld once said the absence of intelligence is not actually intelligence (he was referring to looking for terrorists). I liked that quote.

Because A implies B does not mean not A implies not B, or that B implies A.

disneysteve · #15 (**permalink**) 05-21-2008, 01:07 PM

Quote:

Originally Posted by jIM_Ohio

I agree it could not hurt. But because something does not hurt does not mean it would help.

Well, I'm certainly hoping that some knowledge is better than no knowledge. I've sat down with our daughter on several occasions and given her personal finance lessons. I've taught her about spending with cash, checks, debit cards and credit cards, how each works, pros and cons, etc. I've used online calculators to show her what happens when you carry a balance on your credit card. I've shown her how we earn hundreds of dollars of rewards each year using our cards responsibly.

Our daughter actually balances our family checkbook each month and has been doing that for a couple of years, a skill that a great many adults have yet to master, so I know she has learned something.

Ima saver · #16 (**permalink**) 05-21-2008, 01:16 PM

I attended a "smart women finish rich" seminar with many women. The same question was asked about "Ashley and Adam" Ashley saves early but only for 10 years. Adams starts 10 years later and saves for 35 years. I was the ONLY one in the room that new Ashley would have the most money at age 65.

jIM_Ohio · #17 (**permalink**) 05-21-2008, 01:28 PM

Quote:

Originally Posted by Ima saver

I attended a "smart women finish rich" seminar with many women. The same question was asked about "Ashley and Adam" Ashley saves early but only for 10 years. Adams starts 10 years later and saves for 35 years. I was the ONLY one in the room that new Ashley would have the most money at age 65.

start first, finish in first

good work

vsjhoc · #18 (**permalink**) 05-21-2008, 02:35 PM

Quote:

Originally Posted by AmbitiousSaver

I truly envy those of you who grew up with financially saavy parents or are naturally that way.

There's no such thing -- it's not like being born with blue eyes. It's all learned.

I got 12/12 on the quiz. I was terrible at math in school (still am). But I've read a heck of a lot about personal finance.