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Where to Keep Your Savings is a free printable Grade 3 to Grade 5 social studies worksheet on the advantages and disadvantages of savings options, aligned to C3 Framework indicator D2.Eco.9.3-5. It prints 8 questions with an answer key on its own sheet of paper, in 25 versions that each ask different questions, so no two students in the class work from the same page. Print it from the browser or download it as a PDF — no account, no email.

Set 17 of 25 · the same problems every time you open this link.

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Set 1 has all 25 in a single PDF. All 25 sets ask different questions.

Where to Keep Your Savings

D2.Eco.9.3-5

NameDate

Choose the best answer.

1.What is a disadvantage of a CD?
  • A.It can only hold coins
  • B.It pays no interest at all
  • C.You usually pay a penalty if you take the money out early
2.What is a certificate of deposit, or CD?
  • A.A coin collection
  • B.A card used to borrow money
  • C.Savings left in a bank for a set time to earn more interest
3.Why does a CD usually pay more interest than a regular savings account?
  • A.The government pays the extra interest
  • B.CDs are riskier than piggy banks
  • C.The bank can count on keeping the money for a set time
4.Which is a disadvantage of keeping savings in a piggy bank?
  • A.The bank charges a fee to open it
  • B.It earns no interest and can be lost or stolen
  • C.It is too hard to reach
5.Why are savings in most US banks safe even if the bank fails?
  • A.The money is kept in each customer's house
  • B.Banks never fail
  • C.The FDIC insures deposits up to a limit
6.Which savings option is best for money you want to grow and will not need for years?
  • A.A piggy bank
  • B.A CD or a savings account that earns interest
  • C.A wallet
7.Which is an advantage of a savings account at a bank or credit union?
  • A.You can never take your money out
  • B.It pays you to spend money
  • C.The money is kept safe and earns interest
8.Why might a child keep a little money in a piggy bank at home?
  • A.The government insures it
  • B.It earns the most interest
  • C.It is easy to reach for small purchases

LessonPrint · D2.Eco.9.3-5 · Set 17 · free to copy for classroom use

Answer key — Where to Keep Your Savings

Set 17. Prints on its own sheet.

  1. 1.You usually pay a penalty if you take the money out early
  2. 2.Savings left in a bank for a set time to earn more interest
  3. 3.The bank can count on keeping the money for a set time
  4. 4.It earns no interest and can be lost or stolen
  5. 5.The FDIC insures deposits up to a limit
  6. 6.A CD or a savings account that earns interest
  7. 7.The money is kept safe and earns interest
  8. 8.It is easy to reach for small purchases

Last reviewed 2026-09-05. Aligned to D2.Eco.9.3-5 of the C3 Framework for Social Studies State Standards.