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1.
A good way to determine how well you can afford to participate in an automatic savings plan is to find out where you are spending money needlessly in your budget.
True. This can become a new source of funds for you.
2.
Automatic withdrawals from an existing savings account can be used to fund _______.
All of the above. Automatic investing can build up your investments for you.
3.
Some certificates of deposit accept additional deposits.
True. Add-on certificates allow them, which makes them ideal for some peoples automatic investing plans.
4.
Regular purchases of stock with money taken out of an existing account are an example of an _______.
Automatic investment plan. In this case, money is going toward buying investments.
5.
Using an automatic investment plan to fund a retirement account is only for the young.
False. Even later in life, you can still build up a sizable amount of money.