Saving Grade 7

Which of the following is a reason to save money?

• for big purchases

• for college

• for emergencies

• all of the above

"Pay Yourself First" means

• Buy yourself something nice.

• Spend whenever you want.

• Put aside a set amount in your savings account from each paycheck.

• None of the above.

Jose wants to save $400 for trip. If he saves $50 from each weekly paycheck, how long will it take him to save this amount?

• 6 weeks

• 7 weeks

• 8 weeks

• None of the above

Long-term goals represent:

• 1-3 months

• 2-4 months

• 3-6 months

• 3 or more years

Saving money to go to the movies with your friends represents:

• a short-term goal

• a medium-term goal

• a long-term goal

• None of the above

Which of these makes it difficult to save

• wanting to often spend money on snacks and food

• wanting to spend money on entertainment

• being tempted to buy things when you are in a store

• All of the above

Your friend says< " I don't have to save for the future because I'm young." Do you agree?

• Yes

• No

Most Americans are doing a good job saving money.

• Yes

• No

Your money is safer:

• in a bank

• at home

Having savings goals help motivates people to save money.

• Yes

• No