Financial Literacy Unit 2 Study Guide

When it comes to personal savings, what does PYF stand for?

• Pay Yourself First

• Pick Your Finch

• Pink Yink Fink

List 3 critical aspects of saving and investing.

• risk, availability, rate of return

• money, coins, savings

• mutual funds

What are two short term savings options?

• savings account and certificate of deposit (CD)

• rate and return

• bonds and stocks

What are two long term savings options?

• stocks and bonds

• savings and mutual funds

• financial institution and shares

Someone wanting to have their savings insured by the FDIC wants to use this savings option.

• Savings account

• mutual fund

• money market account

An investment that is essentially an IOU with a set rate of return.

• Bond

• savings

• account

People buy what kind of insurance for protection against car crashes?

• auto/car insurance

• pet insurance

• homeowners insurance

Insurance for going to the doctor and hospital.

• health

• travel

• auto

Insurance for a vacation.

• auto

• traveler's

• pet

Insurance for where you live.

• homeowners or rental

• auto

• vacation