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About This Quiz
Do you know the most painless ways to save money?
What's the first thing you should change when you decide to boost your savings power?
your friends
your resume
your attitude
The No. 1 way to increase your ability to save is to adjust your attitude. Instead of viewing cutbacks as a punishment, think of them as a reward. After all, you can put your savings toward something that's really important to you, like an education or a dream vacation.
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How much does it cost to install a programmable thermostat?
about $400
about $50
If your home's heating and cooling system isn't controlled by a programmable thermostat, you can have one installed for about $50.
more than $800
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Why is it a good idea to shop for auto insurance annually?
You'll keep your insurance agent on her toes.
You can find the cheapest rate.
By comparing the auto insurance rates of several different providers each year, you can determine which rate is lowest and might save hundreds of dollars a year on premiums.
You will be eligible for a safe-driving course.
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If you spend $100 a month on your favorite form of latte, how much savings could you build by instead investing that money at 10 percent interest every month for five years?
$6,500
$5,200
$7,800
If you placed your $100-a-month coffee budget into savings every month for the next five years at 10 percent interest, it would be worth $7,800.
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What is a surefire way to build savings into your workday?
pack a lunch
Instead of dining out every day (the average fast food meal costs between $4 to $7, and has about 1,000 calories), pack your lunch. Not only will it be better for your health, but it will save you money. You could probably even afford to treat yourself to a lunch with friends once a week -- and order dessert.
arrive 10 minutes early
dine out
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Dry cleaning can really add up over time, but do you know the potential health risks?
You encouter dangerous traffic on the way to the dry cleaner.
The only risk is to your wallet.
Some dry cleaning chemicals may be carcinogenic.
Historically, the dry cleaning process has used perchloroethylene, a chemical that the International Agency for Research on Cancer reports is a human carcinogen. Some dry cleaners now use a safer C02 cleaning process instead.
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Can some clothes labeled "dry clean" be washed at home?
yes
Many clothes that have a "dry clean" label can be washed at home using a gentle detergent and line drying. However, some materials labeled "dry clean only," like silk, should be dry cleaned professionally or with home-substitute products.
no
only if you remove the label with fabric care instructions
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How much does a typical meal cost in a fast casual restaurant?
$5 to $7
$8 to $15
When you order a meal at a fast casual restaurant, like Chipotle or Blimpie, it will often cost you between $8 and $15. You can usually prepare a similar meal at home for a fraction of the cost.
$16 to $21
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What is one of the most cost-efficient food ingredients to grow in your own kitchen?
herbs
Fresh herbs can be grown at home for pennies on the dollar of what it costs to buy them fresh in the grocery store. All these hardy plants need to produce abundantly throughout the year is soil, sunlight and water.
chicken
soybeans
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Most grocery stores offer a price-per-ounce comparison for a variety of items. Where is this information usually located?
on a display near customer service
in the employee break room
on a tag affixed to the store shelf
If you'd like to compare similar items quickly by brand or size, scan the store shelves. On the tags that list the price of each item, there is usually a price-per-ounce or comparison in smaller print.
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Which appliance commonly found in homes uses the most electricity per year?
cable box/DVR
A set-top cable box or DVR uses electricity 24 hours a day, whether you are actively using it or not. In fact, it uses more electricity than a new, full-sized refrigerator. The estimated 160 million set-top boxes in the U.S. consume some $3 billion in electricity each year.
refrigerator
hair dryer
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How can acting as a tourist in your own town save you money?
You'll spend less, but do more.
You could save a significant amount of money by opting for free activities instead of the usual dinner and a movie. Start by touring free or low-cost local art museums and historical sites. Some cities also offer free walking tours.
Tourists follow a budget.
You can dine out for every meal.
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How much could you save at the grocery store by purchasing generic or store-brand items instead of brand-name items?
10%
50%
30%
According to Consumer Reports, you can save up to 30 percent at the grocery store if you purchase generic or store-brand items instead of brand-name items. In many cases, the quality is the same.
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What is one way that music lovers can save money on live performances?
stay home and listen to a CD
buy extra tickets and scalp them
attend free community concerts
Music lovers don't need to shell out a hundred dollars for a concert ticket. Many community centers, art-focused groups and upscale shopping centers offer community concert series that feature free performances by local musicians or musical groups.
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If your cable box/DVD is an older model that uses scads of electricity, how can you save money and avoid the cost of replacing it?
unplug it
A typical cable box/DVD consumes 66 percent of its energy when you're not using it. Unplugging the device is a simple but effective way to save money on energy costs.
record more television shows
use the push-buttons instead of the remote
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What is one painless way to add to your savings account?
eat two, not three, meals a day
work a second job
make automatic contributions to a savings account
Ask your financial institution or employer if you can opt to automatically contribute a portion of your check to your savings account. When you pay into your savings automatically, you are less likely to miss the money -- or spend it on something else.
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How much can you save on energy costs by adjusting your thermostat?
not enough to matter
1 percent for each degree
You can expect to reduce your energy costs by 1 percent for every degree that you lower the thermostat in the winter or raise it in the summer, so long as you commit to that change for eight hours.
5 percent for each degree
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If climate and proximity allow, what's a great way to shave hundreds of dollars off your commuting costs?
map the most direct route
pack a brown bag lunch
ride a bicycle or walk to work
Pending weather and distance, making the decision to ride your bicycle or walk to work can save hundreds of dollars each month in commuting costs when compared with driving a vehicle to work.
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Researchers found that mice that exercised regularly experienced what benefits?
made friends more easily
decreased their appetites
reduced or eliminated the effects of aging
A study published in a 2011 issue of "Proceedings of the National Academy of Sciences" revealed that mice that exercised rigorously on a regular basis "reduced or eliminated almost every detrimental effect of aging."
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How much could the average person save on annual health care costs if he or she exercised on a regular basis?
$200
$500
The estimated savings in health care costs for a person who regularly exercises is $500 a year.
$50
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You Got:
/20
n/a