Dave Ramsey Ch. 8 Test

A bank can help you __________ your money and keep it __________.

• Manage; safe
• Find; growing

• Deposit; budgeting

• Budget; available

Some of the services banks offer include . . .

• Paying off your student loan debt and saving for your time

• Creating a personalized budget for you and managing your schedule

• Teaching you how to handle your finances and encouraging you to cut up your credit cards

• Mortgages, check writing, and debit cards

A savings account is for __________.

• Investing your money

• Regular spending

• long-term goals

• the entertainment budget line item

An easy way to avoid ending up with errors in your checking account is to simply . . .

• only use cash

• monitor your account at least twice a week

• keep all your reciepts

• budget often

The Federal Deposit Insurance Corporation (FDIC) and National Credit Union Administration (NCUA) keep your money in the bank insured up to __________ per account.

• $250,000
• $250

• $2,500

• $25,000

Credit Unions differ from retail banks in that they typically require membership based on specific criteria.

• True

• False

Your emergency fund should go in your checking account, NOT a money market account.

• True

• False

If you see "pending" on an account charge, that means . . .

• you need to make a deposit before it is paid

• the payment was declined

• it hasn't been fully processed yet

• it is suspected of being a fraudulent charge

Distrust, unemployment, and bank fees are a few excuses people give for . . .

• Not making and sticking to a budget

• Not looking for work when their checking account is getting low

• Not having a savings or checking account

• Not filing their taxes

If you prefer great customer service and lower fees . . .

• A small, local bank is often a great option

• You should use the check cashing service at a large retailer

• A large, national bank is for you

• You should jump from bank to bank until you find the perfect match