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Q1 Saving

Total questions: 16

Worksheet time: 11mins

Name
Class
Date
1.

Putting aside money for future use is known as...

(a)  

2.

Things you have to have; these are essential.

a)

Wants

b)

Needs

c)

Income

d)

Savings

3.

Things you would like to have; they are not absolutely necessary, but they would be nice to have.

a)

Wants

b)

Needs

c)

Incomes

d)

Savings

4.

A saving strategy where you put a fixed amount of money into a savings account immediately after receiving your paycheck, rather than waiting until the end of the month to save what's left.

a)

Pay Bills First

b)

Pay Needs First

c)

Pay Yourself First

d)

Pay Yourself Last

5.

An amount of money given by a parent or guardian at regular intervals to their child.

a)

Paycheck

b)

Allowance

c)

Salary

d)

Sunday

6.

A breakdown of your income and expenses for a set period of time.

a)

Income

b)

Saving

c)

Payment Plan

d)

Budget

7.

A type of bank account that allows you to put aside money for future use and earn interest.

a)

Saving Account

b)

Checking Account

c)

Piggy Bank

d)

Banorte

8.

The amount of money you earn on your savings account balance.

a)

Earnings

b)

Compound Interest

c)

Simple Interest

d)

Complex Interest

9.

A savings account that is managed entirely online with no physical bank branch; usually offers higher interest rates.

a)

Online Savings Account

b)

Online Checking Account

c)

Bitcoin

d)

BancaNet

10.

A bank account held by more than one person; each individual has the right to deposit and withdraw funds.

a)

Shared Account

b)

Co-Account

c)

Side Account

d)

Joint Account

11.

Interest earned on both the principal amount and any interest already earned.

a)

Complex Interest

b)

Simple Interest

c)

Compound Interest

d)

Main Interest

12.

A financial 'safety net' for unexpected expenses.

a)

Mattress

b)

Savings

c)

Emergency Fund

d)

Fun Fund

13.

The minimum dollar amount that a customer must have in their account to receive some benefit (such as keeping the account open or receiving interest).

a)

Minimum Balance Requirement

b)

Minimum Payment Requirement

c)

Maximum Deposit Requirement

d)

Minimum Deposit Requirement

14.

The machine that allows a customer to take out physical currency from their bank account.

a)

ATM

b)

Automatic Teller Machine

c)

Digital Cashier Machine

d)

DCM

15.

An amount of money you add to a bank account.

a)

Payment

b)

Withdrawal

c)

Saving

d)

Deposit

16.

An amount of money you take out of a bank account

a)

Payment

b)

Withdrawal

c)

Saving

d)

Deposit