Financial Literacy: Savings: Needs and Wants

Where is a good place to save your money safely?

• Home

• Friend's House

• Bank

• Someone can keep it for me

Banks _______________________ money.

• take

• throw

• steal

• lend

One of the ways banks get money is _________________.

• from another country

• from the people who keep their money in the bank

• from the government

• from sales

Borrowing and Saving money have ONE thing in common?

• saving

• interest

• budget

• income

One of the advantages of saving money at a bank is _________.

• that is safe

• that is convenient

• that it helps you

• that is a need

Another advantage of saving money at a bank is ___________.

• that banks pay interest

• that banks give you income

• that banks take care of your wants

• that banks don't lose your money

Banks charge interest to ...

• loose money

• help you with money

• make money

• waste money

What is an example of a need?

• toy

• water

• cell phone

• video game

What is an example of a want?

• video game

• food

• water

• shelter

One way to make sure we can pay for our needs is to __________.

• buy whatever you want

• not pay attention to how much things cost

• limit spending on wants

• not spend money at all