Checking's Versus Savings

I am a 20 year old who has a part time job. I make $350 dollars a week and I would like to reserve some of my money for the future. Which account should I open?

• Checking

• Savings

• Both

I am 13 years old and do not have a job. For my birthday, my Aunt gave me $1000 dollars and told me to save it for college. Which bank account should I open?

• Checking

• Savings

• Both

Robert wants to get serious about saving for a new car. He has $100 dollars currently and wants to add $100 dollars a week until he saves enough. Which account would you recommend?

• Checking Account

• Savings Account

• CD Account

Cindy has been working for 8 years, and she’s built up a huge emergency fund -- $45,000, which would be 6 months of her salary. She’s hoping to earn a bit more interest than she currently is with that $45,000 just sitting in her traditional bank’s savings account. Which account would you recommend?

• Checking Account

• Savings Account

• CD Account

In this account you can

- take money in and out whenever you want

-you have access to a debit card

- you receive NO interest

• Checking

• Savings

• CD

In this type of account, you

- receive high interest rates

- can NOT take money out of the account until it expires

- requires a minimum of $2500 to open

• Checking

• Saving

• CD

In this type of account, you have

- the ability to save money

the ability to take money in and out of your account

- no access debit cards / check

• Checking

• Savings

• CD

Do you have a checking account?

• Yes

• No

• I dont know

Do you have a savings account?

• Yes

• No

• I dont Know

If you receive a large sum of money (ex $50,000) which account would you put it in and why?

(Checking, Savings, CD)