SAVINGS

Paying yourself first can help you achieve your savings goals because it helps you make sure you are not overspending and immediately puts your money towards saving.

• TRUE

• FALSE

A savings account is a place where you can store your cash safely while earning interest.

• TRUE

• FALSE

A savings account lets you put money aside that you don’t need immediately, but may need at some time in the future. For example: a vacation, an item you have been wanting to buy, or to cover the costs of an emergency.

• TRUE

• FALSE

FDIC insured means that the federal government will insure up to $250,000 of the money in your account in case the bank fails.

• TRUE

• FALSE

You should give out your bank passwords to your friends

• TRUE

• FALSE

Chris wants to put money aside so he can buy his mom a birthday present. Which account should be use

• Checking Account

• Savings Account

Sam wants to buy school supplies for a project she is working on. Which account should be used

• Savings

• Checking

Aisha wants to withdraw $20 from an ATM so she can buy a movie ticket and go watch the movie with her friends. Which account should be used

• Checking

• Savings

Neil rides his bike every day to school and back and is responsible for maintaining his bike. He wants to make sure he has money to fix or replace anything that might break in the future. Which account should be used

• Savings

• Checking

Rosa is going on a vacation with her parents in a few months and wants to put the money she just got from the holidays aside to buy souvenirs. Which account should be used

• Checking

• Savings