NEW
Font size
WorksheetsEverfi Vault Module 5 review
Total questions: 15
Worksheet time: 8mins
Why is it important to save money?
Savings allow you to buy the things you want or need at a later time.
Saving helps you buy things now
Saving money helps you live longer
Saving money is like exercise, it makes you healthier and stronger
What is the connection between goals and savings?
Goals can give you a reason to save
you can buy goals
you can save goals
goals are not connected to savings
Where would you got o start a savings account?
A jar in the backyard
a financial institution
an envelope in the room
all of the above
Savings acount____
can help you reach your savings goals faster
make paying credit cards easier
help you spend more money
can get you into debt more easily
Which of the following is not true about savings accounts?
Savings accounts can protect your money from being lost, damaged or stolen.
Savings accounts help you get to your goals faster.
Savings accounts earn interest
Savings accounts can lose your money
Interest earned on a savings account is _____
the percentage of money you spend per month
the percentage a financial institution pays you to borrow your money
the percentage of your budget you spend
the percentage of your budget you don’t spend
How are simple interest and compound interest different?
Compound interest is like having more cash, but simple interest is like having more debt
Simple interest is like having more cash, but compound interest is like having more debt
Compound interest stays the same over time, but simple interest grows.
Simple interest stays the same over time, but compound interest grows.
Insurance can help _____
add money to a savings account
in an emergency
with making ends meet regularly
None of the above
Why might a stock be an investment that can have some risks?
You can lose money if the business you own stock in does not do well.
Stocks usually do well in the long run.
There can be some fees charged as you buy stocks
You can earn a lot of money if the business you own stock in does really well
How can insurance help with meeting savings goals?
Insurance companies can quickly use your savings to pay for emergencies.
You can have a savings account with an insurance company.
Insurance pays for some costs of an emergency so you can keep your savings.
Financial institutions give higher interest rates for people who have insurance
Savings accounts can be opened at Walmart
true
false
Interest is the amount of money you owe to the bank
true
false
Compound interest grows faster than simple interest
true
false
You can buy and sell goals
true
false
Saving money helps you live longer
true
false
