

NGPF Savings
Flashcard
•
9th - 12th Grade
•
Practice Problem
•
Hard
Wayground Content
FREE Resource
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13 questions
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1.
FLASHCARD QUESTION
Front
Putting money into a savings account before paying expenses.
Back
Pay yourself first
2.
FLASHCARD QUESTION
Front
Which is true about an online savings account? Options: Is not FDIC insured, No physical bank to do business at, No advantages over traditional savings accounts
Back
No physical bank to do business at
3.
FLASHCARD QUESTION
Front
What is interest?
Back
An amount of $ an institution pays you for the use of your $
4.
FLASHCARD QUESTION
Front
Interest is: a charge for lending money to a bank, The money the bank charges for borrowing money, the amount added into your savings when opening a bank account
Back
The money the bank charges for borrowing money
5.
FLASHCARD QUESTION
Front
How does the 50-20-30 rule distribute your income?
Back
50% needs, 20% savings, 30% wants
6.
FLASHCARD QUESTION
Front
Interest earned on both the principle amount and any interest already earned.
Back
Compound Interest
7.
FLASHCARD QUESTION
Front
A percentage paid to a lender for the use of borrowed money
Back
Interest Rate
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