SAVINGS ACCOUNT
What is a savings account?
A bank account that earns interest!
What is a overdraft?
The amount that is overdrawn and that will leave you with a negative balance in the account!
What is Budgeting?
The process of creating a plan to spend your money!
What is affordable housing?
Housing which is deemed affordable to those with a median income!
True Or False. when it comes to savings is it better to put the money in your checking account?
FALSE
Taking money out of a account is called?
Withdraw!
What are the two main parts in a budget?
Income and Expenses!
Where can you find affordable housing?
realtors office, realtors magazines, online!
What us the benefits of having a savings account?
Seeing the more money you save will motivate you to keep saving and it helps with long term investments.
What is a electronic transfer of funds into a account called?
Direct Deposit!
What is the difference between a want and a need?
A want is something that makes life enjoyable and a need is something that is essential to your health and security!
Who qualifies for affordable housing assistance?
People who makes less than 50% of the area median income!
Why are savings account safe?
Because they are insured!
True or False? A credit Card takes money immediately out of your checking account?
False a debit card takes money immediately out.
What is a variable cost?
Cost that change each month EX: utilities, food, and clothing ect.
What is the difference between low-income housing and affordable housing?
Families that make 80% less than the area median income are considered lower income!
What is Interest?
The amount you will earn when you deposit money over time!
What happens when you invest in a high risk savings account?
The high or easier to lose money!
what is a Spending log?
Is a record of everything you purchase and how much you spend each day!
How do you sign up for affordable housing?
Contact public housing agency!