Take the quiz to reveal your current financial standing and the next steps toward achieving financial independence! /5 Foundations of Financial Success – Quiz This quiz is designed to test your understanding of the key concepts from the *Foundations of Financial Success* module. By taking this quiz, you’ll assess your knowledge of budgeting, goal setting, cash flow management, and the core principles of financial independence. It’s a quick, engaging way to check your progress and ensure you’re on the right path to mastering essential financial skills. 1 / 5 Which of the following is considered a fundamental step in creating a budget? Estimating future expenses based on guesswork. Reducing all discretionary spending to zero. Tracking income and expenses over a set period. 2 / 5 What does the acronym SMART stand for in goal setting? Simple, Measurable, Attainable, Reliable, Time-bound Specific, Measurable, Achievable, Relevant, Time-bound Structured, Motivational, Actionable, Realistic, Time-bound 3 / 5 Which of the following tools can help with budgeting? Investment accounts High-interest savings accounts Budgeting apps like Mint or YNAB 4 / 5 What is financial independence primarily about? Having enough assets to cover living expenses without relying on employment income. Accumulating wealth for spending in retirement. Saving money until you’re 50 years old. 5 / 5 What is the main purpose of understanding cash flow? To ensure you have more money coming in than going out. To predict stock market performance. To know when bills are due. Your score is 0% Restart quiz