Responses
If you have money in savings, you won’t be charged interest on your loans.
If you have money in savings, you won’t be charged interest on your loans.
If you save money now, you will have multiple bankruptcy options in the future
If you save money now, you will have multiple bankruptcy options in the future
Saving money allows you to pay for expensive goods and services in the future.
Saving money allows you to pay for expensive goods and services in the future.
Saving money is a requirement once you start earning a regular salary.
How does the amount of money in your savings account grow over time?(1 point)
Responses
Banks who are insured through FDIC add money to your savings account each month.
Banks who are insured through FDIC add money to your savings account each month.
Money from your checking account is automatically moved into your savings account every month.
Money from your checking account is automatically moved into your savings account every month.
Money in your savings account earns a certain amount of principal each year.
Money in your savings account earns a certain amount of principal each year.
You can earn interest on the money you keep in your savings
George wants to start saving more money. What is a good first step for him to follow? (1 point)
Responses
Identify and cut all essential expenses.
Identify and cut all essential expenses.
Start putting 15% of his income into savings.
Start putting 15% of his income into savings.
Reduce spending on all expenses.
Reduce spending on all expenses.
Track his expenses for one month.
What is a business that keeps, exchanges, and lends money to people? (1 point)
Responses
Account
Account
Bank
Bank
Interest
Interest
Loan
What can be cut from a person’s budget in order to save money?(1 point)
Responses
essential expenses
essential expenses
income from wages
income from wages
income from interest
income from interest
non-essential expenses
Mortgage payments and student loans are examples of... (1 point)
Responses
assets
assets
credit
credit
collateral
collateral
income
income
1 answer
Response:
Saving money allows you to pay for expensive goods and services in the future.
Response:
You can earn interest on the money you keep in your savings.
Response:
Track his expenses for one month.
Response:
Bank
Response:
non-essential expenses
Response:
credit
