Pay Yourself First

Pay Yourself First

Assessment

Flashcard

Life Skills

9th - 12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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10 questions

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1.

FLASHCARD QUESTION

Front

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

Back

To cover emergencies and unexpected expenses

2.

FLASHCARD QUESTION

Front

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

Back

Insured against loss and earn interest

3.

FLASHCARD QUESTION

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.

4.

FLASHCARD QUESTION

Front

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

Back

Medical emergency and vehicle repair

5.

FLASHCARD QUESTION

Front

Why is it important to set financial goals?

Back

To identify and focus on items that are important.

6.

FLASHCARD QUESTION

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

7.

FLASHCARD QUESTION

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

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