Spring 24 Chapters 8 & 9 Questions

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

• Budget; available
• Deposit; budgeted
• Find; growing
• Manage; safe

A savings account is for ___________.

• Investing your money
• Regular spending
• Long-term savings goals
• The Entertainment budget line itemption 1

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

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

• True
• False

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

• It is suspected of being a fraudulent charge
• It hasn't been fully processed yet
• The payment was declined
• You need to make a deposit before it is paid

If you see a charge you don't recognize, you should report it to your bank immediately.

• True
• False

People who are struggling with money often turn to alternative financial services like payday loans, but these services actually end up causing them to lose money.

• True
• False

With online banks, all of your deposits, transfers, and bill payments happen digitally, but . . .

• Online banks should never be trusted
• These banks do not offer interest on savings accounts
• It's often more difficult to get in touch with a real person when you need assistance
• They do not provide a debit card

If you prefer great customer service and lower fees . . .

• A small, local bank is often a great option
• A large, national bank is for you
• You should use the check cashing service at a large retailer
• You should jump from bank to bank until you find the perfect match

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

• A checking account
• A savings account
• Online banking
• A money market account