Which of the following is a key to establishing a sizable savings balance?
A) invest all money earned in the stock market
B) automatically deposit a percentage of each paycheque into a savings account
C) pay the minimum on each credit card bill
D) use online savings banks, since they typically pay higher rates of interest

Question

Quizplus · Accepted Answer

Automatically depositing a percentage of each paycheque into a savings account is a consistent and reliable way to steadily build up savings over time. This approach ensures that savings are prioritized and can accumulate without much effort or temptation to spend the money elsewhere. It's a good idea to aim for a savings deposit of at least 10% of each paycheque, but even a smaller amount can help to make a big difference over time.

Which of the Following Is a Key to Establishing a Sizable