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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 7 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.You usually pay a penalty if you take the money out early
  • B.It can only hold coins
  • C.It pays no interest at all
2.What is a certificate of deposit, or CD?
  • A.Savings left in a bank for a set time to earn more interest
  • B.A coin collection
  • C.A card used to borrow money
3.Which is a disadvantage of keeping savings in a piggy bank?
  • A.It is too hard to reach
  • B.It earns no interest and can be lost or stolen
  • C.The bank charges a fee to open it
4.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
5.Why does a CD usually pay more interest than a regular savings account?
  • A.The bank can count on keeping the money for a set time
  • B.CDs are riskier than piggy banks
  • C.The government pays the extra interest
6.Ava wants to save for college, eight years away. Which option fits best?
  • A.A piggy bank under her bed
  • B.A savings account or college savings plan that earns interest
  • C.Spending it now and hoping
7.Which option would you choose for money you may need next week?
  • A.A college savings plan
  • B.A five-year CD
  • C.A savings account you can take money out of at any time
8.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

LessonPrint · D2.Eco.9.3-5 · Set 7 · free to copy for classroom use

Answer key — Where to Keep Your Savings

Set 7. 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.It earns no interest and can be lost or stolen
  4. 4.The FDIC insures deposits up to a limit
  5. 5.The bank can count on keeping the money for a set time
  6. 6.A savings account or college savings plan that earns interest
  7. 7.A savings account you can take money out of at any time
  8. 8.A CD or a savings account that earns interest

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