The first step in a savings plan is to

an amount of money you can easily access in case of a job layoff, illness, or unexpected expense

Common guideline is that you keep enough money in the emergency fund to cover living expenses for ________

something you want to achieve stated in terms that are specific, measurable, achievable,realistic, and time related

____________ is to make plans straightforward i.e. save for $1200 for ski trip in Dec. instead of save money for future trip

_________ are to know when to reach your goal i.e. predict sales of a laptop in order to save monthly

_________goals need to reasonable and attainable i.e. knowing how much you can afford to purchase your first home instead of aiming to own a $1 million house on the beach as a first home is not achievable

___________consider your income and expenses, life situation, and any likely changes i.e. planning on saving $300 a month to buy a car instead of getting a loan within 2 years; Purchasing used car is realistic while buying a new luxury car is not

__________goals should have starting points, ending points, and fixed time periods

_________ is an account designed for accumulating money for future use

_________ is the rate in yearly earnings from an account, including compound interest

_______ is a type of demand deposit account that pays interest and allows for regular deposits and withdrawals; make withdrawals whenever you choose

__________ is an account that pays a higher interest rate

_________ is a type of savings account that typically pays a higher interest rate than regular savings accounts

________a savings account that requires a deposit of fixed amount of money for a fixed period of time or term; penalty for early withdrawal

________ is interest earned only on the principal, which is the amount of money originally deposited

________ is an amount calculated using the principal(money deposited) plus the interest it earns

__________ is to be free of certain taxes i.e. education expenses

________ are taxes on the principal and/or earnings are delayed until the funds are withdrawn i.e. retirement savings