SaveUp Assessment Grade 5

What is a benefit of saving money?

• Getting a discount on your bills

• Being able to prepare for emergencies

• Having a higher paycheck

• Getting hired for a job

Your emergency savings should cover your expenses for

• 1 month

• 2 months

• 3 months

• 4 months

Setting a savings goal can help you

• When you want to buy something expensive

• When you want to borrow something

• When there is nothing you need or want

• When your friends need money

Which will help you save for your goals faster?

• Choosing wants before needs

• Choosing only wants

• Choosing only needs

• Choosing needs before wants

Which of these can help you save money?

• Increasing spending

• Budgeting money

• Taking a vacation

• Selling your items

Your savings account will make more money in interest if you

• Withdrawal more money

• Move money around

• Deposit more money

• Closing your savings account

TRUE OF FALSE: You may need to pay fees when you open a savings account.

• True

• False

__________ are the things you can't live without. (examples: food, water, shelter)

• Dislikes

• Likes

• Wants

• Needs

A ___________ is a plan for using your money over a set period of time. It helps you keep track of what you earn, spend, and save.

• Budget

• Co-Signer

• Spreadsheet

• Word Document

_________ is money that a financial institution pays you to borrow your money.

• Balance

• Interest

• Profit

• Earnings