Money Management Test Review (TpT)

The FDIC insures depositors against losing their money in the case of a ____________.

Regulates the banking system and guides monetary policy with regard to interest rates

You should save for the following:

Term that means easily converted to cash

Your housing expense should take up no more than ____ of your budget.

Emergency fund goes here

To calculate net worth you should use the following formula:

Which of the following is a depository institution?

Saving money for a purchase and letting the interest work for you rather than against you

For most people, a fully-funded emergency fund will be about:

Examples of savings vehicles include:

Tiered interest rates mean:

Your personal documentation of what is going on in your checkbook.

Earning interest on interest

Interest is money paid to a saver by a financial institution.

Your business automatically transferring your paycheck into your account.

A bank is ___, and has ____.

Your income level greatly affects your savings habits.

Account used for everyday purchases and bills

Key to building wealth