Monthly Budgeting - Checking/Savings Review

What are some things that a bank does?

• Protects and stores your money.

• Can give you a debit and credit card.

• Can help you to pay your bills.

• All of the above are correct.

Why are banks so important?

• It's a cool place to go.

• They offer a lot of services you can use.

• You can make friends there.

• They've got money!

Which is NOT a quality of a checking account?

• Easy access to money

• You can deposit money

• It has interest

• Pay your bills

Which is NOT a quality of a savings account?

• You can get a debit card

• No bill pay

• It earns interest

• It is used to save your money for "just in case"

What is a debit card?

• You use your card and pay it back later

• You use your card and the money is taken out of your account

• A card you swipe that has unlimited money

• A card you swipe and it has a limited amount of money

What is a credit card?

• You use your card and pay it back later

• You use your card and the money is taken out of your account

• A card you swipe that has unlimited money

• A card you swipe and it has a limited amount of money

How do you open a bank account?

• Go online

• Go in person and talk to an associate at the bank

• Assume your parents have made an account for you

• Go in person, talk to an associate, make sure you have the proper documents.

What is a checking account used for?

• Your day to day bills and purchases.

• Your "just in case" money.

• If there is an emergency.

• Saving for a vacation.

What is a savings account used for?

• Saving for a vacation.

• Your "just in case" money.

• If there is an emergency.

• All of the above.

Which account has unlimited ATM access?

• Checking

• Savings