Pay Yourself First

Front

What are two reasons why a person would want to save money?

Back

To cover emergencies and unexpected expenses

Front

What are two benefits to saving money at a depository institution?

Back

Insured against loss and earn interest

Front

Why is it important to "pay yourself first"?

Back

Make it a habit to save before you spend so you will have money for emergencies.

Front

What two unexpected things may occur in life for which savings would help pay the expenses?

Back

Medical emergency and vehicle repair

Front

Why is it important to set financial goals?

Back

To identify and focus on items that are important.

Front

Which type of account pays a higher interest rate than a savings account and individuals may withdraw money a limited number of times every month?

Back

Money Market Deposit Account

Front

Which type of account holds money not spent on current expenditures? Options: Savings Account, Money Market Deposit Account, Certificate of Deposit (CD)

Back

Savings Account

Front

Sara earned $135 and is using the "Pay Yourself First" strategy to save 10% of her money. How much will she deposit into her savings account?

Back

$13.50

Front

Jorge received $25 for a birthday gift and earned $75 mowing lawns this week. If he deposits 20% of his total earnings into his savings account, how much will he deposit?

Back

$20.00

Front

What are two reasons why a person would want to save money?

Back

To cover emergencies and unexpected expenses