Question

Having a savings account can contribute to a person’s overall financial well-being. Which one of the following is NOT a benefit of maintaining a savings account?
a.
A savings account provides security in tough financial times
b.
With a savings account, you can invest when the opportunity presents itself
c.
Having a savings account gives individuals the ability to borrow money from members in the community
d.
A savings account allows an individual to fulfill life long dreams

Answer 1

c. Having a savings account gives individuals the ability to borrow money from members in the community

Explanation: Savings accounts provide safety, liquidity for investments, and funds for long‑term goals, but they do not by themselves enable you to borrow money from other community members.