Here's how much cash you should keep in your checking account

Here's how much cash you should keep in your checking account

Assessment

Interactive Video

Life Skills, Business

University

Hard

Created by

Quizizz Content

FREE Resource

The video tutorial discusses how to manage your checking account effectively by balancing it with one month's worth of expenses, adding a buffer to avoid fees, and considering an emergency fund. It suggests using high yield savings accounts for better interest rates and automating savings to maintain optimal balance. The tutorial emphasizes the importance of aligning financial decisions with personal comfort and expert recommendations.

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2 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What is the purpose of an emergency fund, and how much should it ideally cover?

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

What is the average interest rate for checking accounts according to the FDIC?

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OFF