Ramsey Classroom Chapter 8: Financial Services

A savings account is for ______.

• The Entertainment budget line item

• Investing your money

• Regular spending

• Long-term savings goals

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

A bank can help you _____ your money and keep it ______.

• Budget; available

• Manage; safe

• Deposit; budgeted

• Find; growing

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

The Federal Deposit Insurance Corporation (FDIC) and National Credit Union Administration (NCUA) keep your money in the bank insured up to _____ per account.

• $250

• $2,500

• $25,000

• $250,000

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

An easy way to avoid ending up with errors in your checking account is to simply...

• Only use cash

• Monitor your account at least twice a week

• Keep all your receipts

• Budget Often

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

Credit Unions differ from retail banks in that they typically require membership based on specific criteria.

• True

• False

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

Your emergency fund should go in your checking account, NOT a money market account.

• True

• False

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

If you see "pending" on an account charge, that means...

• It hasn't been fully processed yet

• It is suspected of being a fraudulent charge

• The payment was declined

• You need to make a deposit before it is paid

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

Distrust, unemployment, and bank fees are a few excuses people give for

• Not filing their taxes

• Not having a savings or checking account

• Not looking for work when their checking account is getting low

• Not making and sticking to a budget

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

A debit card, ATM access, payroll direct deposit, and checks are basic features of

• A checking account

• A money market account

• Online banking

• A savings account

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

With certificates of deposit (CDs), you have to pay a penalty for...

• Creating a savings account

• Using an ATM

• Withdrawing your money early

• Depositing money into the account

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4