WorksheetsSaving Money for the Future Everfi
Total questions: 12
Worksheet time: 6mins
What is the benefit of saving money?
Being able to write a check
Getting a discount on paying your bills
Being able to prepare for emergencies
Not having to worry about your expenses
Your emergency savings should cover your expenses for ________.
1 month
6 months
10 months
When can setting a savings goal help you?
A. When there is nothing you want or need
B. When you need to save money long-term
C. When you want to buy something
Both B and C
Calculating your expenses helps you budget because ________.
you can return things you have bought more easily
you can figure out how to spend less and save more
you can understand how much money you can spend
you can stop spending money and save for your goals
How can you save for your goals faster?
Choosing wants, not needs
Choosing needs, not wants
Choosing needs before wants
Choosing wants before needs
Which of these can help you save money?
Budgeting money
Increasing income
Reducing expenses
All of the above
What is a savings account used for?
A. Saving money
B. Writing checks
C. Using a debit card
Both B and C
Your savings account will make more money in interest if you __________.
save less money
deposit more money
make withdrawals
check your account online
Which of these is true about a savings account?
You can't open it online
You may lose your money
You can't make withdrawals
You may need to pay fees
You can open a savings account to __________.
pay for everyday expenses
deposit money you want to save
borrow money from financial institutions
buy a financial product to grow your money
Why do financial institutions need to know your personal information?
to verify your identity
to protect your identity
to understand your financial situation
All of the above
When you open a savings account, reading Terms and Conditions helps you __________.
waive fees for using the ATMs
close your account without penalty
understand rules you need to abide by
earn more interest in your savings account
