Savings Account

Front

How is wealth defined? Options: How much money you have in your Checking and Saving accounts, Debts - Assets, All assets, including money in the bank + retirement, Assets - Debts

Back

Assets - Debts

Front

Which is NOT a typical goal for a savings account? Options: To create an emergency fund, To pay for higher education, To save for a new car, To buy groceries for this week

Back

To buy groceries for this week

Front

About how much should you save in an emergency fund? Options: 1-3 months of living expenses, 3-6 months of living expenses, 6-9 months of living expenses, 9-12 months of living expenses

Back

3-6 months of living expenses

Front

What is a good strategy to help you save? Options: spend money on all expenses; put the rest into saving, Tap into your savings on a regular basis to purchase small items, like snacks, Pay yourself first - set aside money for savings each month, Keep your spending and saving money together in 1 account

Back

Pay yourself first - set aside money for savings each month

Front

Saving accounts differ from checking accounts in that...

Back

Money in a saving account can be used to fund a bank's loans.

Front

True or False: You need a checking account to open a savings account.

Back

False

Front

What is a reason for why so many Americans live paycheck-to-paycheck?

Back

Many people impulse shop