Saving for Goals 15-18

What is the most effective way to save for a financial goal?

• • a) Spend first, save later

• • b) Set aside money regularly

• • c) Use a credit card

• • d) Wait for extra income

Which tool can help you track progress toward a savings goal?

• a) Piggy bank
  

• b) Savings account
  

• c) Random notes
  

• d) Social media
  

What is an example of a short-term financial goal?

• a) Saving for a car
  

• b) Buying a gift next week
  

• c) Purchasing a house
  

• d) Retirement planning
  

What is an important first step in saving for a big goal like a college education?

• a) Estimate how much money is needed
  

• b) Spend less time planning
  

• c) Borrow money immediately
  

• d) Ignore long-term goals
  

Which savings strategy works best for earning interest over time?

• a) Hiding cash at home
  

• b) Keeping money in a high-interest account
  

• c) Spending as soon as possible
  

• d) Lending money to friends