Savings

Most Americans have an emergency fund and money saved for retirement

• True
• False

A savings account should be used for daily purchases

• True
• False

A speeding ticket is an item that you would use money from an emergency fund for

• True
• False

To successfully open a savings account, which of the following is NOT required?

• Evidence of a job
• Minimum deposit (if applicable)
• A legal form of identficiation
• If under 18, a guardian's signature

Fill in each blank with one word:
Research has shown that the more money you ____________, the _________ you feel.

• Spend, Better
• Earn, Happier
• Save, Sadder
• Save, Happier

If you had a short- term goal which interest would be best typically?

• Simple
• Compound
• Both
• Neither

Which account is effective for storing emergency money?

• Checking Account
• Savings Account
• Money Market Deposit Account
• Certificate of Deposit

Savings accounts are considered high risk!

• True
• False

How is wealth defined?

• How much money you have in your Checking and Saving accounts
• Debts - Assets
• All assets, including money in the bank + retirment
• Assets - Debts

Which is NOT a typical goal for a savings account?

• To create an emergency fund
• To pay for higher education
• To save for a new car
• To buy groceries for this week