FINANCIAL MANAGEMENT What is money?

Bell ringer What is the purpose of a banking institution?

Federal Reserve System Structure of the Federal Reserve 12 Regional Bank districts

Why does our economic system need a regulatory agency? Throughout the history of our country attempts have been made to develop a system that will provide for economic stability in times of recessions or depressions.

Types of Institutions Banks Finance Companies Credit Unions

What is the purpose of these financial institutions?

What type of financial institutions is …. Chase?

What type of financial institutions is …. First Busey Corporation?

What type of financial institutions is …. Community plus federal credit union

Money is anything that can be exchanged for goods, services and payment of debts. Is this always what money looks like?

What form does money take? Currency Checks ATM Debit Cards Online Banking Online Bill Pay

Three functions of Money Medium of Exchange Unit of Account Store Value

An “Owed” to MONEY! Using the form provided –Answer the questions about money (any and all types). –Create a poem about MONEY. –Illustrate your poem.

Types of poems you can create Acrostic –The first letter of each line spells a word

What does money mean to you? Security is something All people long For Everyone needs money To feel stable You do too.

Cinquain Line 1: Two syllables Line2: Four syllables Line 3: Six syllables Line 4: Eight syllables Line 5: Two syllables

Money Multiple forms Cash, credit, debit cards Each form is used in many ways Moola

Free verse No rhyme or rhythm needed Choice is yours for how you break up the different lines

Money by Gary R. Hess Money is the thing that drives us The more we have The greedier we are The less we have The more we want Money is power If we have it We can get what we want If we have it We only want more

Types of poems Free Verse Cinquain –Line 1: Two syllables Line2: Four syllables Line 3: Six syllables Line 4: Eight syllables Line 5: Two syllable Acrostic –The first letter of each line spells a word

Financial Institutions When opening an account at a financial institution what are some of the things a consumer should consider?

Checking -- What it is! Checking & Banking Services What is provides! –A system for handling money –A record of spending –Relationship w/ a financial institution –Aide in establishing credit –Safety

What are some services institutions offer? Money Orders Cashiers Checks Certified Checks Travelers Checks Other Services Special Checks

Account Elements Demand Deposit Accounts Drawer Drawee Payee

Checking…The Basics The Signature Card Writing a check Writing a deposit slip Endorsements Keeping a register

Let’s practice…Writing a Check

Let’s practice…Writing a Deposit

Keeping a Running Balance Check # DateDescriptionTransaction Amount Deposit Amount Balance

Please complete the worksheet as a group

What things can a bank statement tell you?

Bank Statements & Reconciliation's Bank Balance Posting Outstanding Deposits & Checks

Checking - Reconciliation Getting your checkbook to agree with the bank What will you need? –Bank statement –Cancelled checks –Checkbook register –Calculator –Patience!

Reading a bank statement Why would you check your bank statement?

Bank statements have Depositor’s beginning balance Individual & total deposits Individual & total checks Ending balance

Article review rotation Break into assigned groups -Start at a table -Read, discuss, and respond to questions in article. You do not have to write down each individual question. Just the title of the article and then answer the question in a full and complete sentence -Example: I’m A Saver 1. I do agree with Damari’s idea of saving because it is better to be prepared for emergencies then have your immediate wants.