Savings Accounts

Match

Match the following

• Human capital

• Income

• Labor

• Scarcity

• Availability

skills and education that help a worker make more money

Money someone gets from their employer

doing work that a person gets paid for

when there is not enough supply of a product and cost goes up

when there is plenty of a product for everyone who wants to but it and cost is low

• skills and education that help a worker make more money

• Money someone gets from their employer

• doing work that a person gets paid for

• when there is not enough supply of a product and cost goes up

• when there is plenty of a product for everyone who wants to but it and cost is low

Match

Match the following

• Borrow

• Lend

• Credit

• Interest

• Expenses

to take or receive something with the promise of returning it

to let your property (money, toys) for temporary use understanding that it will be given back

borrowed money from the bank with a promise to repay the money with interest

extra money paid back when money is borrowed

the cost required for something; the money spent on something

• to take or receive something with the promise of returning it

• to let your property (money, toys) for temporary use understanding that it will be given back

• borrowed money from the bank with a promise to repay the money with interest

• extra money paid back when money is borrowed

• the cost required for something; the money spent on something

When would be a good time to save money?

​Examples of Planned Expenses:

--Groceries

--Rent/Mortgage

--Bills (Water/Electric/WiFi)

--Gas for vehicles

--Lunches

--Planned shopping trips like back to school

​Examples of unPlanned Expenses:

--Broken home appliances

--car repairs

--disasters that cause damages

--impromptu shopping trips

Multiple Choice

Which of the following best describes planned spending?

• Paying for goods or services that are expected

• Paying for goods or services that are expensive

• Paying for goods or services that are inexpensive

• Paying for goods or services that are unexpected

Multiple Choice

Which of the following best describes unplanned spending?

• Paying for goods or services that are expensive

• Paying for goods or services that are inexpensive

• Paying for goods or services that are expected

• Paying for goods or services that are unexpected

Where would be a good place to keep money that you are saving?

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What you know!

Multiple Choice

Adam is planning his monthly budget. Which of these would NOT be a reason to save money in a savings account?

• To be prepared for unexpected expenses

• To buy a new house for his family

• To pay for college for his son

• To keep people from asking you to lend them money

Multiple Choice

Karla wants to collect money to go to college. Which os the following is the best way for Karla to collect money for college?

• Open a savings account and place money there every pay period

• Spend all the money she earns from working on clothes and entertainment

• Give away the money she earns from working to her friends

• Spend all the money she earns on electronics

Multiple Choice

Which of the following is NOT a reason to place money in a savings account?

• Open a savings account and place money there every pay period

• Spend all the money she earns from working on clothes and entertainment

• Give away the money she earns from working to her friends

• Spend all the money she earns on electronics

Multiple Choice

Which os the following is an example of a person saving money?

• Diana gives $50 to her sister as a birthday persent.

• Brian placed $20 in his piggy bank.

• Lori donated $100 to a local charity.

• Elias spend $85 on clothes at the mall.

Multiple Choice

Ricky deposits money in a savings account each month. Which of the following is a

reason to place money in a savings account?

• To lend the bank money

• To get more people to be your friend

• To become a better student

• To pay for the cost of unexpected emergencies