Smart Saving Products

What is a savings account?

• A savings account is an investment account that only allows stock purchases.

• A savings account is a checking account with no withdrawal limits.

• A savings account is a deposit account that earns interest and is used for saving money.

• A savings account is a type of loan that requires monthly payments.

Why is it important to save money?

• It is important to save money for financial security and to prepare for emergencies.

• To avoid any form of investment.

• To keep all money in cash without any plan.

• To spend more on luxury items.

What is an investment?

• A method of saving money for future use.

• A type of insurance policy for financial security.

• A way to spend money without expecting returns.

• An investment is the allocation of resources to generate income or profit.

Can you name a type of investment product?

• Real Estate

• Mutual Fund

• Stocks

• Bonds

What does interest mean in banking?

• Interest refers to the total amount of money in a bank account.

• Interest is a type of investment strategy.

• Interest is the fee charged for using a credit card.

• Interest is the cost of borrowing money or the return on deposited funds.

How can you earn money from savings?

• Store cash under your mattress

• Invest in high-risk stocks

• Purchase luxury items with savings

• Earn interest through high-yield savings accounts, CDs, or low-risk investments.

What is a budget?

• A budget is a type of investment strategy.

• A budget is a document for tracking personal goals.

• A budget is a financial plan for managing income and expenses.

• A budget is a method for calculating taxes.

Why should you have a budget?

• To make financial decisions based on emotions.

• To avoid tracking expenses altogether.

• To increase spending without limits.

• To manage finances effectively and achieve financial goals.

What is a piggy bank used for?

• To save money.

• To keep food fresh.

• To hold jewelry.

• To store toys.

What does it mean to spend wisely?

• To spend wisely means to make informed and thoughtful financial decisions that prioritize value and necessity.

• To spend wisely means to avoid all financial transactions.

• To spend wisely means to buy the most expensive items available.

• To spend wisely means to spend as much money as possible without thinking.