Financial Literacy Chapter 3 Saving Money

47% of Americans have less than $1,000 saved for a(n) ________.

• Retirement Fund

• New Smartphone

• Car

• Emergency

Tags

CCSS.RI.11-12.8

CCSS.RI.9-10.7

CCSS.RL.11-12.8

CCSS.RL.8.7

CCSS.RL.9-10.7

You'll have less freedom with your money if you...

• Invest in the stock market

• Are paying for things in your past

• Put money in a bank account

• Make less that $35,000

Once you have $500 emergency fund, you should...

• Start putting it toward debt

• Invest it in the stock market to grow your money

• Save it until you have an emergency

• Use the money to pay health insurance

The first step you should take when you want to make a large purchase is ...

• Ask your parents to loan you the money with low interest

• Get a new credit card

• Decide how much you will need to save and the time frame you want to save it in

• Sell something and use the proceeds

The best way to build wealth is to start investing early. You should start investing money ...

• Once you have a fully funded emergency fund

• Once you are out of college, living debt-free, and have 3-6 months of living expenses

• When the stock market is doing well

• As soon as you have extra cash

Why do some accounts, like savings accounts at your local bank, earn interest?

• Because you deposit money, adding to your principal each month

• Because the bank pays you to use your money

• Because of inflation

• Because those accounts always have great interest rates

It's not IF an emergency will happen, but _______.

• How

• Where

• Why

• When

Tags

CCSS.RL.2.6

CCSS.RL.8.3

If you really want to save money, you've got to ...

• Fly economy class

• Live on less than you make

• Invest in a Roth IRA

• Have a financial advisor

Tags

CCSS.RL.8.1

CCSS.RI.8.1

CCSS.RI.8.8

CCSS.RL.11-12.1

CCSS.RL.9-10.1

The only place you should keep your emergency fund money is ...

• A savings account or a money market account

• A safe in your bedroom

• Stock market

• An envelope in a safe place

If people saved the equivalent of a care payment each month for a year or two (instead of spending it on payments and interest), they could have enough money to buy a car with cash for much cheaper!

• True

• False

Tags

CCSS.6.RP.A.3B