SaveUp!

What is the benefit of saving money?

• Being able to write a check

• Getting a discount on paying your bills

• Being able to prepare for emergencies

• Not having to worry about your expenses

Your emergency savings should cover your expenses for at least _________.

• 1 month

• 3 months

• 6 months

• 10 months

When can setting a savings goal help you? Select all that apply.

• When there is nothing you want or need.

• When you need to save money long-term.

• When you want to buy something expensive.

• There is no reason to set a savings goal.

^{Calculating your expenses helps you budget because _________.}

• you can return things you have bought more easily

• you can figure out how to spend less and save more

• you can understand how much money you can spend

• you can stop spending money and save for your goals

How can you save for your goals faster?

• Choosing wants, not needs

• Choosing needs, not wants

• Choosing needs before wants

• Choosing wants before needs

Which of these can help you save money? Select all that apply.

• Budgeting money

• Increasing income

• Reducing expenses

• Spending more on the things you want

What is a savings account used for?

• Writing checks

• Saving money

• Using a debit card

• Using a credit card

Your savings account will make more money in interest if you ________.

• save less money

• deposit more money into the account

• make withdrawals (take out money from the account)

• check your account balance online

Which of these is true about a savings account?

• You can't open it online.

• You may lose all of your money.

• You can't make withdrawals.

• You may need to pay fees.

You can open a savings account to _______.

• pay for everyday expenses

• deposit money you want to save

• borrow money from financial institutions

• buy a financial product to grow your money