What’s Next? Checking and Savings Accounts. Opening a Checking Account Name some items you should bring with you to open a checking account.   Identification.

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Presentation transcript:

What’s Next? Checking and Savings Accounts

Opening a Checking Account Name some items you should bring with you to open a checking account.   Identification such as a driver’s license   Social security card   Money to deposit in the account

Opening a Checking Account What is direct deposit?  Direct deposit is when your place of employment puts your paycheck directly into your savings or checking account.

Opening a Checking Account What are two types of financial institutions where you can open an account?  A bank  A credit union

Opening a Checking Account You are ready to open an account. Name three factors you should consider when selecting a financial institution.  Whether or not they are insured  The types of accounts they have  The location and history of the bank

Opening a Checking Account You need to choose the account that is right for you. Name three financial institutions you are planning to research.

Opening a Checking Account Name three ways you can research the financial institution’s accounts.  Ask friends and family  Visit the bank personally  Use the Internet

Opening a Checking Account Complete the chart by either visiting the bank or looking at their website. Please be thorough in the information you provide.

Buying a Luxury Item You just got a large inheritance. You have decided to spend all or part of the money on a luxury item. Name five items you would consider purchasing with this money.

Buying a Luxury Item For each of the items listed above, identify the specific cost and source of the cost. Use the Internet or newspaper ads. Be specific in the information you provide.

Buying a Luxury Item You just got a large inheritance. You have decided to spend all or part of the money on a luxury item. Name five items you would consider purchasing with this money.