Savings and Investment Strategies Part 1

Front

Putting money into the bank is called a...

Back

deposit

Front

Taking money out of a checking account is called a...

Back

withdrawal

Front

Thinking of savings vs. checking accounts, which statement is true? Savings accounts earn interest while checking accounts do not.

Back

Savings accounts earn interest while checking accounts do not.

Front

Which action will increase the money in your checking account? Options: Deposit a check from your uncle for your birthday gift., Use the ATM to get out cash., Move money from your checking account to your savings account.

Back

Deposit a check from your uncle for your birthday gift.

Front

To automatically save a specified amount from a paycheck for future use.

Back

Pay Yourself First (PYF)

Front

What does the "FDIC Insured" mean?

Back

If you have money in your checking or savings account and the bank goes out of business, you are guaranteed to get your money back up to a certain limit.

Front

Savings goals that you want to achieve in 2 years are called...

Back

medium-term savings goals

Front

What is compound interest?

Back

Interest on the original deposit PLUS interest on the interest.