What is the first step towards becoming rich according to millionaires?

"Keeping a track of your earnings" "Investing in mutual funds" "Creating an emergency fund" "Thinking big

Which investment option represents ownership in a company?

"Mutual Funds" "Direct Stocks" "Emergency Fund" "Fixed Deposits

What is the key benefit of investing in Mutual Funds?

"Guaranteed high returns" "Ownership in a specific company" "Diversification of risk" "Tax-free income

Why is it important to review your finances periodically?

"To identify fraudulent transactions" "To impress financial advisors" "To determine your current financial position and progress towards goals" "To avoid paying taxes

According to Rakesh Jhunjhunwala, what should be the correct spending rule?

"Expenses + Savings = Income" "Income - Savings = Expenses" "Savings - Expenses = Income" "Income + Expenses = Savings

What is the primary purpose of an emergency fund?

"To fund luxury vacations" "To invest in high-risk stocks" "To cover unexpected expenses like medical emergencies or job loss" "To pay off existing debts

What is Azim Premji's advice for setting financial goals?

"Start small and gradually increase your goals" "Focus on short-term gains" "Think big and aim for ambitious targets" "Rely on luck and intuition