CHAPTER 6: SAVINGS AND BANKINGS

Careful saving and planning are important

• True

• False

We are saving our money to help us reach our short and long term goals.

• True

• False

Saving money in a short period of time is to help us reach for our long-term goals.

• True

• False

Saving money for a long time is to help us reach for our long-term goals.

• True

• False

Saving money is important since we might never know what may happen in the future with regards to our job, health and family

• True

• False

With our savings, we can help our parents out in times of emergencies

• True

• False

All we need in saving money is willpower or determination

• True

• False

We are not encouraged to resist our temptation to have latest and most expensive gadgets

• True

• False

Banks provide services for people to borrow money and pay back later with higher interest rate

• True

• False

If we deposit our money, banks will charge lower interest rate to us

• True

• False