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Question 3: What are the different reasons for using a savings account? Select all that apply.

- Short term financial goals
- Impulse buying
- College fund
- Vacation
- Liquidity
- Emergency

Sagot :

GinnyAnsweridn

Final answer:

Savings accounts are utilized for short term goals, college funds, and emergencies.


Explanation:

Reasons for using a savings account:

  • Short term financial goals: Savings accounts can help individuals save for short-term financial needs like buying a new phone.
  • College fund: Using a savings account to save for higher education expenses is a common practice.
  • Emergency: Savings accounts provide a financial safety net for unexpected expenses like medical emergencies.

Learn more about savings account purposes here:

https://brainly.com/question/41699390


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