WorksheetsSAVINGS
Total questions: 20
Worksheet time: 10mins
Paying yourself first can help you achieve your savings goals because it helps you make sure you are not overspending and immediately puts your money towards saving.
TRUE
FALSE
A savings account is a place where you can store your cash safely while earning interest.
TRUE
FALSE
A savings account lets you put money aside that you don’t need immediately, but may need at some time in the future. For example: a vacation, an item you have been wanting to buy, or to cover the costs of an emergency.
TRUE
FALSE
FDIC insured means that the federal government will insure up to $250,000 of the money in your account in case the bank fails.
TRUE
FALSE
You should give out your bank passwords to your friends
TRUE
FALSE
Chris wants to put money aside so he can buy his mom a birthday present. Which account should be use
Checking Account
Savings Account
Sam wants to buy school supplies for a project she is working on. Which account should be used
Savings
Checking
Aisha wants to withdraw $20 from an ATM so she can buy a movie ticket and go watch the movie with her friends. Which account should be used
Checking
Savings
Neil rides his bike every day to school and back and is responsible for maintaining his bike. He wants to make sure he has money to fix or replace anything that might break in the future. Which account should be used
Savings
Checking
Rosa is going on a vacation with her parents in a few months and wants to put the money she just got from the holidays aside to buy souvenirs. Which account should be used
Checking
Savings
Which of the following is the MOST financially responsible decision?
Kate sold her old bike helmet for $10 to a friend. She gave the $10 to her favorite charity.
Jared gets $50 for his birthday from his grandma. He spends $75 on XBox games.
Sue was paid $25 for helping her neighbor in the yard. She spent $20 on a t-shirt and $5 on ice cream at the mall.
Jerry earns $100 lifeguarding. He spent $5 on lunch and put the other $95 in the bank.
Which of the following is a benefit of having a personal savings plan?
Personal savings plans let people spend more time doing activities they enjoy.
People who save money are able to spend more money in the future and pay for unexpected expenses.
People who save money are able to spend a lot of money right now.
Personal savings plans help people have an unbalanced budget.
Simple interest, or interest, is a charge for money that is borrowed.
TRUE
FALSE
Interest= Principal × Rate × Time
TRUE
FALSE
Formula I=PRT, the P stands for
Principal
Plus
Plagiarism
Plaque
Formula I=PRT, the I stands for
Interim
Interest
IPAD
Intervene
Formula I=PRT, the R stands for
RATIONAL
RIVER
RATE
ROME
Formula I=PRT, the T stands for
TIME
TODAY
TIMES TABLE
TOMORROW
What is the main purpose of creating a budget?
To spend more money
To save money for future expenses
To borrow money
To lend money
Which account should you pay your bills from?
Savings account
Checking account
