Choose to Save and Savings Tools Review

Money available at the present time (today) is worth more than the same amount if received in the future

• Pay Yourself First
• Time Value of Money

Portion of income not spent on consumption

• Consumption
• Savings

The original amount of money saved or invested

• Interest
• Principal

Putting money for yourself aside before paying bills

• Do It Yourself

• Pay Yourself First

How quickly and easily assets can be accessed and converted into cash

• Liquidity
• Compound Interest

Cash set aside to cover the cost of unexpected events

• Time Value of Money
• Emergency Savings

When you complete a task yourself rather than paying someone else

• Do It Yourself
• Pay Yourself First

Accumulation of excess funds by intentionally spending less than you earn

• Consumption
• Saving

Earning interest on interest

• Interest

• Compound Interest

• Time Value of Money

• Saving

How quickly and easily assets can be converted into cash

• Interest

• Saving

• Cash Out

• Liquidity