Savings Test Review
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others
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7th Grade
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
What should you consider when choosing a savings account?
Back
How much are the interest rate and fees?
2.
FLASHCARD QUESTION
Front
"Pay yourself first" means...
Back
Any time you get paid, set aside some portion to save before you do any spending
3.
FLASHCARD QUESTION
Front
Which of the following is an example of a long-term savings goal? Saving for dinner and a movie, Saving for a new backpack for school, Saving for a new pair of crocs, Saving for a car in five years
Back
Saving for a car in five years
4.
FLASHCARD QUESTION
Front
Which behavior change is MOST likely to help Arnold save more money? Options: Spend less time cutting grass and more time saving money, Ask his parents for an allowance and try to save that money instead, Spend money on a better lawn mower so he can cut more grass, Before he spends, set aside $5 to save out of every $20 payment
Back
Before he spends, set aside $5 to save out of every $20 payment
5.
FLASHCARD QUESTION
Front
How much does Paul need to save per month for a $600 trip to Disney World in 10 months?
Back
$60 per month
6.
FLASHCARD QUESTION
Front
Doris makes $300 per month by babysitting her neighbor's kids after school. She wants to buy her dad something really special for his birthday, which is 10 months away. Which strategy will work best to make sure she has enough saved by then? Options: Wait until the month of her dad's birthday and worry about it then. Save $300 every month without spending anything on herself. Apply for a credit card so she can charge the gift now and pay in 10 months. Figure out how much the gift will cost and divide that number by 10 and save that amount each month.
Back
Figure out how much the gift will cost and divide that number by 10 and save that amount each month.
7.
FLASHCARD QUESTION
Front
Why do you want to make sure your bank is FDIC insured?
Back
If you have money in your checking or savings account and the bank goes out of business, you are guaranteed to get your money back up to a certain limit.
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