Where Do You Save Your $$$ ? Gr. 4 Financial Literacy.

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Presentation transcript:

Where Do You Save Your $$$ ? Gr. 4 Financial Literacy

Vocabulary /. Saving account- A type of savings vehicle in which you earn interest on the principal, usually without minimum balance requirements but lower interest rates. Interest- Is the fee someone pays to be able to borrow money. You either pay interest on money you borrow or you make interest on the money you save. Checking Account- A type of bank account in which interest is not usually applied to the principal, but offers a safe place to store your money with high liquidity and allows you to make withdrawals using ATM card, debit card, or personal check. Deposit- When money is added into a bank account. Withdrawal -An amount taken out of a bank account.

Essential Questions What is the best way to keep your savings safe? How do you make money by putting your money in a savings account? Image:

Where Do You Save Your $$$ ?

It might get LOST, STOLEN or SPENT Oh, NO!!! I lost my Money? something-without-your crazy-and-spend-all-your-money/ Where Do You Save Your $$$Where Do You Save Your $$$ ?

Where Do You Save Your $$$Where Do You Save Your $$$ ?

It might get STOLEN or SPENT Where Do You Save Your $$$ of-startup-investing-what-passover-has-to-teach-us-about-startups/ Where Do You Save Your $$$ ?

It will be SAFE! Open a SAVING OR CHECKING

It will PAY! Where Do You Save Your $$$ ? education/teens/savings-accounts-and-interest/ $10.00 $10.20 The bank pays you.20¢ Interest for keeping your money in the bank.

Young Entrepreneurs: Pink Polka Dot Guild

Check Number Description Payment (-) Deposit (+) Balance $ Birthday Gift Record your transactions to determine your available balance. Transaction Register

Where Do You Save Your $$$ ?

What is the best way to keep your savings safe? How do you make money by putting your money in a savings account?