CK Quiz 5.2, 5.7 5.8

Checking accounts allows you to write checks and takes money out of your account quicker than using a credit card? Yes or No

Savings accounts allows you to write checks. Yes or No

With a savings account you can quickly deposit or deduct amounts of money needed for emergencies? Yes or No

Which accounts earns you interest when you leave money in the account. Savings or Checking's

A ​ (a)   order can allow you to pay for an expense such as a downpayment on a ​ (b)   or pay for an ​ (c)   purchase from Ebay if you do not have other means of paying for something you ordered.

• Money
• Car
• Online

An Automatic Tell Machine is what?

AMT, ADM, ATM

When finding a bank (checking and savings), I need to consider

• Interest rate

• Minimum amount I have to keep in the account

• Fees associated with the account

• Nothing to consider

1. 1. A bank must consider those with good credit scores, or those who can have co-signers to give a loan?

2. 2. If I need a loan I can find out how must the interest rate is, how long I have to pay on the loan, If I pay it off early and on time that gives me a good credit score?

3. Yes or no to both questions

Organize these options into the right categories

Groups:

(a) Required by law to have

,

(b) Not required by law but helpful

,

(c) Getting a loan is easier by

,

(d) Way to save money

• Start a savings account, put money away at home in a safe/piggie bank/have a budget

• Limit online purchases

• Accident insurance

• Car insurance if I own car, SUV, Truck etc

• Use apps available such as McDonalds, or digital/paper coupons to lower my total purchase amount

• Life insurance

• Home owners or Renters Insurance if I live on my own

• Health insurance at age 26 or right away if no one can cover me

• I can have money already saved for a loan and with a budget

• 401 K savings

• Having a job and showing income helps me get a loan

• I can have a co-signer (someone who will hold me accountable to pay off my loan)

It is best to pay off my credit card or loan balances in full each month. Yes or No