Checking/Savings Review

Getting cash back does what to your checking account balance?

• No impact

• Raises it

• Lowers it

If you know you want to lock away money for a set time period of 3 years without touching it, what's the best time of account to use for this?

• 401k

• Money Market Savings

• Certificate of Deposit

• Checking Account

What are ways to access money from your checking account?

• Only ATM or check.

• Check, ATM, going into bank, debit card, cash back

• Only check or credit card.

• Credit Card, ATM, going into bank, debit card, cash back

Which of these should not be paid for with money from your savings account?

• Filling up your gas tank

• One week vacation

• First semester of college

• Your first car

Why is compounding interest so great?

• You earn interest on your initial deposit only!

• You are exempt from checking account fees!

• You are guaranteed 4% interest yearly!

• You earn interest on your interest!

This type of check is one that hasn't yet been cashed.

• Outstanding

• Amazing

• Superb

• Fantastic

Which is not a strategy to save?

• Set Savings Goals!

• Save Last, not First!

• Cut your expenses!

• Be a smart shopper!

What is a pro of Direct Deposit?

• You have to cash your paycheck at the bank

• You have to wait in line for your paycheck at work

• You can only be paid once a month.

• Your paycheck is immediately deposited into your account

When searching for the best checking account, one should look for:

• The lowest fees

• The highest fees

• The highest interest rate

• The lowest interest rate

What interest rate on a savings account would you prefer?

• 0.4%

• 1.1%

• 1.9%

• 2.4%