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Savings 1
Savings 2
Savings 3
Savings 4
Savings 5
100
Types of accounts  to hold money not meant to be spent in the present.
What is a savings account?
100

This is something every spending plan should have.

What are goals? long term/short term

100

This ensures you do not spend beyond your limits, help to stay on budget, alert you to unauthorized activity.

What is reviewing your monthly statement?

100

What is the recommendation for how much you should save for an emergency fund?

3 - 6 months

100

What types of savings accounts do you want to avoid?

Ones that have maintenance fees, minimum balances, or withdrawal fees

200
Interest rate given on an account on an annualized basis.
What is the APR (annual Percentage Rate)?
200
This may include your paycheck, child support, alimony, investment income, and/or other income.
What is your source of income?
200

What is the benefit of automating your savings account contributions?

Your money will be transferred automatically and guarantees you will be contributing to your savings.

200

Name that Interest!

interest is paid on the principal amount only. 

Simple

200

If you have money saved now that you intend to spend in 5 or more years, which type of savings account would have the highest interest rate?

CD or certificate of deposit

300

Experts suggest you try to save what % of your income.

What is 20%?

300
By honestly evaluating your _____versus _____, you can control excessive spending.
What are Needs V Wants?
300

Which strategy will help you save the most money?

As soon as you receive your paycheck, put a fixed amount or percentage of your money directly into your savings.

300

Name that Interest!

interest is paid on the principal amount and on the interest already earned.

Compound

300

This account is a retirement account that is done through your employer

401K

400
Three common reasons why people save money.
What is to have an emergency fund, big purchase or large spending need, financial stability?
400

This plan offers a greater understanding and control over finances.

What is creating a Budget?

400

The best time to begin saving for retirement.

Early as possible or when you start your career

400

How can credit cards make it more challenging to save? 

Credit cards make it easier and more tempting to spend money you do not have.

400

This account is a hybrid of a Checking and Savings. It may require a higher minimum balance than other accounts.

banking money market

500

How do you distribute your money when using the 50-20-30 rule?

50% rent/essential/fixed expenses

30% entertainment, dining, shopping

20% retirement, savings, emergency fund

500

Keon receives a $1,000 paycheck.  According to the 50/30/20 rule, how much should he put aside for saving?

$200

500

What does it mean to "pay yourself first"?

Deposit money into your savings account before spending on anything else.

500

What is the difference between a checking and a savings account?

a checking account is used to pay bills, expenses, does not earn interest

a savings account is used to store/save money and will earn interest

500

What is a CD or certificate of deposit?

an account that allows you to save money typically at a fixed interest rate for a fixed amount of time—say, 6 months, 1 year or 5 years. 1.