What is a budget?
AnswerA plan for income and spending
A budget maps where money comes from and where it goes.
Money · Facts & stats
Finance facts & stats
7 fact-checked facts about personal finance basics and financial history, each with the reason behind it. 5 more are in today's round and join this page after it closes.
The basics
What is interest?
AnswerThe cost of borrowing money, or the return earned on savings
Borrowers pay interest; savers earn it.
Going deeper
What does the Rule of 72 estimate?
AnswerHow many years it takes money to double at a given rate
Divide 72 by the annual rate to estimate doubling time.
The New York Stock Exchange is located on which street?
AnswerWall Street
The NYSE is at 11 Wall Street in Manhattan.
When you buy a bond, what are you essentially doing?
AnswerLending money to the issuer
Bond issuers pay back the principal plus interest.
Expert level
Which 1776 book by Adam Smith is a foundation of modern economics?
AnswerThe Wealth of Nations
Smith's book described markets and the division of labor.
In finance, what does liquidity mean?
AnswerHow easily an asset can be turned into cash
Cash is the most liquid asset; real estate is much less liquid.
Know these cold?Today's round is five questions like these, 20 seconds each. Your streak and level follow you to every arena.Play today's round