IXL | Savings plans | 3rd grade math

Josh is thinking about saving money. Select two reasons why this is a good idea.

He can increase his debt.

He will earn more money at work.

He can earn interest on his money if he saves it in a bank.

He can use the savings to help pay for college one day.

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question

Grace is thinking about saving money. Select a reason why this is a good idea.

She won't ever have to work to earn money.

She can use the savings to help pay for a car one day.

She won't have to pay for unplanned needs.

She can only borrow money if she has the same amount saved.

solution

This is a reason why it is a good idea for Grace to save money.

green checkmark, She can use the savings to help pay for a car one day.

It can cost a lot of money to buy a car. So, it is a good idea for Grace to start saving money early.

These are not reasons why it is a good idea for Grace to save money.

red X symbol, She won't ever have to work to earn money.

People save money in order to use it later. Grace may still have to work to earn money in the meantime.

red X symbol, She won't have to pay for unplanned needs.

Grace may still need to pay for unplanned needs. For example, saving money won't stop Grace's car from breaking down. If this happens, Grace may need to pay for repairs.

red X symbol, She can only borrow money if she has the same amount saved.

You do not need to have the same amount of money saved in order to borrow money.

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