Three Reasons To Save Money

The first thing you should save for is your retirement fund.

Your income level greatly affects your saving habits

Americans typically maintain a very high savings rate.

You should save money for three basic reasons: emergency fund, purchases and wealth building.

When it comes to saving money, the amount you save is determined by how much you have left at the end of the month once all of your spending is done.

Which step is the First Foundation?

Instead of borrowing money for large purchases, you should set money aside in a _____ over time and pay with cash.

What does it mean to have a negative savings rate?

The saving habits of Ben and Arthur best illustrate which principle of saving?

This principle suggests that a certain amount of money today has different buying power than the same amount of money in the future. This is due to both the opportunity to earn interest on the money and because inflation will drive prices up, thereby changing the "value" of the money.

What should you save for?

Using the sinking fund approach, how much do you have to save each month to buy a $4,800 car one year from now?

At your age, a fully funded emergency fund should be:

What is not a key to saving money?

What is a reason that people don't save money?

What is not one of the three basic reasons for saving money?

What is not a reason your emergency fund should be kept in a separate savings account away from your spending money?

Why is having a fully funded emergency fund so important when it comes to your financial well-being?

Saving is about:

Why should interest earned not be a factor with your emergency fund?

When you're older and out of school, you'll need to grow your emergency fund into a full three to six months' worth of expenses.

You should keep your emergency fund in the same account as your spending money.

An interest-bearing account is an account that generates interest income on the available balance in the account.

When you're in high school, you won't have the same emergency expenses as your parents.

You should hold off on investing for retirement until you have college or other post-secondary education paid for.

Money is set aside and left alone for a "rainy day"

Saving money over time for a large purchase

percentage paid to a lender for the use of borrowed money, or the percentage earned on invested principal

money today has different buying power than the same amount of money in the future

interest paid on interest previously earned

compares after-tax income to the money people spend on a variety of items

the five steps to financial success

save a $500 emergency fund

when a person intentionally invests money in a place where it can earn more money

the persistent rise in the cost of goods and services