Name___________________________ Foundations in Personal Finance
Unit 1: Savings
Learning Outcomes
-List the Baby Steps
-Explain the 3 basic reasons for saving money.
-Identify the benefits of having an emergency fund.
-Demonstrate how compound interest works and understand the impact of annual interest rate.
Key Terms
Baby Steps
Compound interest
Emergency Fund
Interest Rate
Money Market
Sinking Fund
Take the First Step
Baby Step 1 is________ in an emergency fund.
If you make under $20,000 a year, put _________ in an emergency fund.
____________ must become a priority. Always pay ____________ first.
The United States has a ___________ savings rate. Saving money is about _______________ and ________________.
Money is ________________.
You should save money for three basic reasons.
1._______________________
2._______________________
3._______________________
Emergency Fund
_________________ are going to happen. Count on it.
Baby Step 1, a beginner emergency fund, is ____________ in the bank (or $500 if your household income is below $20,000 per year).
Baby Step 3 is a fully funded emergency fun of a 3-6 months or expenses.
A great place to keep your emergency fund is in a ____________ account from a mutual fund company.
Your emergency fund is not an __________, it is insurance.
Do not __________ this fund for purchases.
The emergency fund is your __________ savings priority. Do it quickly!
The second thing you save money for is __________.
Purchases
Instead of _____________ to purchase, pay cash by using a ____________ ____________ approach.
Wealth Building
The third thing you save money for is __________ ___________.
_________________ is a key ingredient when it comes to wealth building.
Building wealth is a ______________, not a sprint.
Pre-______________ ________________ (PACs) withdrawals are a good way to build in discipline.
_________________ ______________ is a mathematical explosion. You must start _________________.
Unit 1: Savings
Learning Outcomes
-List the Baby Steps
-Explain the 3 basic reasons for saving money.
-Identify the benefits of having an emergency fund.
-Demonstrate how compound interest works and understand the impact of annual interest rate.
Key Terms
Baby Steps
Compound interest
Emergency Fund
Interest Rate
Money Market
Sinking Fund
Take the First Step
Baby Step 1 is________ in an emergency fund.
If you make under $20,000 a year, put _________ in an emergency fund.
____________ must become a priority. Always pay ____________ first.
The United States has a ___________ savings rate. Saving money is about _______________ and ________________.
Money is ________________.
You should save money for three basic reasons.
1._______________________
2._______________________
3._______________________
Emergency Fund
_________________ are going to happen. Count on it.
Baby Step 1, a beginner emergency fund, is ____________ in the bank (or $500 if your household income is below $20,000 per year).
Baby Step 3 is a fully funded emergency fun of a 3-6 months or expenses.
A great place to keep your emergency fund is in a ____________ account from a mutual fund company.
Your emergency fund is not an __________, it is insurance.
Do not __________ this fund for purchases.
The emergency fund is your __________ savings priority. Do it quickly!
The second thing you save money for is __________.
Purchases
Instead of _____________ to purchase, pay cash by using a ____________ ____________ approach.
Wealth Building
The third thing you save money for is __________ ___________.
_________________ is a key ingredient when it comes to wealth building.
Building wealth is a ______________, not a sprint.
Pre-______________ ________________ (PACs) withdrawals are a good way to build in discipline.
_________________ ______________ is a mathematical explosion. You must start _________________.
No comments:
Post a Comment