Kiplinger has a fun, albeit relatively easy, quiz that asks if various financial transactions are worth the cost — if you should you pay a little extra upfront in hopes of saving money — or hassle — in the future. In it they offer the following situations:
* Changing your car’s oil every 3,000 miles.
* Taking the brand-name prescription drug instead of the generic.
* Getting an annual furnace checkup.
* Hiring a lawyer to draw up your will.
* Investing in a mutual fund with a sales load instead of a no-load fund.
* Joining a warehouse club.
* Buying an extended warranty for your car.
* Getting accidental death insurance.
* Buying premium gasoline when your owner’s manual says regular is fine.
* Buying renter’s insurance for your apartment.
So, how skilled are you at knowing if a transaction is worth the cost or not? It appears most people are savvy on these ten as of this writing the most common result is eight out of ten correct. Take the test yourself and let us know your score.
Is It Worth It? [Kiplinger]