Savings Review 1 - NGPF Middle School

Front

Which one is not a reason to save? Emergency fund, In order to buy something in the future, None of the above

Back

None of the above

Front

Investment are for the ________ term years into the future.

Back

Long

Front

Money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt

Back

Interest

Front

What is a deposit account held at a financial institution that allows withdrawals and deposits?

Back

Checkings account

Front

What kind of card deducts money directly from a consumer's checking account when it is used?

Back

Debit Card

Front

What does it mean to "pay yourself first"?

Back

Any time you get paid, set aside some portion to save before you do any spending.

Front

TJ is in 7th grade right now and cuts grass for neighbors to earn money. He wants to set one short-term savings goal and one long-term savings goal. Which answer best matches those goals? Short-term = expensive new sneakers // long-term = a car

Back

Short-term = expensive new sneakers; long-term = a car

Front

How much does Ro need to save per month to afford a $500 trip to Washington DC in 20 months?

Back

$25 per month

Front

Which statement best describes what it means if your bank is "FDIC insured?"

Back

If you have money in your checking or savings account and the bank goes out of business, you are guaranteed to get your money back up to a certain limit.