What does ESI stand for in financial planning?
Financial Planning for Beginners

Interactive Video
•
Financial Education
•
12th Grade
•
Hard
Ladisha Lee
FREE Resource
8 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Education, Security, Investment
Employment, Savings, Insurance
Early debt repayment, Savings, Investing
Economic Stability Indicator
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Why is it important to have health and long-term disability insurance?
To invest in the stock market
It's not necessary if you're young
Only if your employer doesn't provide it
To cover unexpected health issues
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is the first financial step after ensuring adequate insurance?
Paying off all debts
Building a small emergency fund
Contributing to a 401(k)
Investing in stocks
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What should you do if you have a 401(k) available?
Withdraw early for expenses
Contribute as much as your employer matches
Only invest in stocks
Ignore it until you have no debt
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is the recommended action for debts with over 6% interest?
Only pay the minimum
Invest instead of paying them off
Pay them off starting with the highest rates
Consolidate them into a new loan
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
After paying off high-interest debt, what is the next step?
Start a new debt
Build a larger emergency fund
Take a vacation
Buy stocks immediately
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which is NOT a suggested camp for using your ESI money?
Saving for a house down-payment
Buying luxury items
Investing in a retirement account
Starting a side business
8.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What percentage of your income is recommended to save or invest?
5-10%
10-15%
20-25%
30-35%
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