Saving and Investing

What should you do to understand your current financial situation? edited

• Take an honest look at your entire financial situation..

• Find a savings or investment option that fits your goals..

• Use calculators and non-commercial resources..

• All of the above..

Tags

TEKS.MATH.3.2A

TEKS.MATH.3.2B

What is the power of compounding?

• Earning interest on the money you save and on the interest that money earns.

• Spending less on other things and saving those extra dollars.

• Buying on impulse and waiting 24 hours to buy anything.

• Emptying your pockets and wallet of spare change at the end of each day.

Tags

TEKS.MATH.7.5A

What is the wisest thing to do if you owe money on your credit cards?

• Pay off the balance in full as quickly as possible

• Invest savings to keep pace with the interest charge

• Use credit cards to buy expensive things

• Budget your money and begin to save and invest

Tags

TEKS.MATH.7.5A

What should you do if you can't pay your credit card balance in full?

• Figure out how much you can pay each month and how long it'll take to pay the balance in full

• Forget about the balance and continue using the credit card

• Pay off the card with the lowest rate first

• Pay off the card with the highest rate first

Tags

TEKS.MATH.7.3A

TEKS.MATH.7.4C

What is the main difference between saving and investing?

• Saving has a higher potential for earning money

• Investing has a higher risk of losing money

• Saving and investing have the same level of risk

• Investing provides immediate access to money

Tags

TEKS.MATH.7.11A

What is the potential risk of investing?

• Losing the principal amount

• Earning a low wage

• Having limited access to money

• Paying high interest debt