Banking: Managing your money Chapter 4 Part 2. Saving Accounts May save money for a specific purpose or just build to reserve for a rainy day, you may.

Slides:

Advertisements

Similar presentations

Chapter 10 Section 3 Banking Today

Advertisements

Chapter 21 Section 3. Banking Services What Banks Do Banks accept deposits to create different types of accounts and then use these deposited funds to.

 How to Manage Your Cash › Daily Cash Needs  Lunch, movies, gas, or paying for other activities  Carry cash  Go to an ATM  Credit Card  Know pros.

Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE1 CHAPTER Banks and Other Financial Institutions Financial Services.

Unit 3: Bank Services and Personal Finances Monday, October 11 Bellwork: Check your teams stock portfolio. Start Unit 3 Bellwork, and enter your team’s.

BANKING. What is Banking? Secure way to maintain your money Establishes credit – shows you have money and know how to manage it responsibly Began as bartering.

An electronic machine that bank customers and credit union members can use to withdraw cash and make other financial transactions.

 Safety  Security  Convenience  Cost  Financial Future.

© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 17 SLIDE Banks and Other Financial Institutions 17-2.

1.7.3.G1 © Family Economics & Financial Education – Revised October 2004 – Financial Institutions Unit – Financial Institutions Funded by a grant from.

Savings and Investing. Key Terms Saving Investing Deposit Withdrawal Interest Interest rate Account balance Compounding of interest Future value Present.

Review Lesson One What are 4 examples of financial institutions?

Where should i put my money? An introduction to banking. Checking? Savings? Under the mattress?

Types of Savings Accounts Unit 2. Lesson 2.. Objectives Identify types of investing options offered by banks Compare and contrast the pros and cons of.

Chapter 4 Saving. Reasons to save  Emergency fund  First priority after needs are met  Should be approximately 2-3 months of expenses  Where to keep.

© South-Western Educational Publishing Chapter 9 Checking Accounts and Other Banking Services  Checking Accounts  Other Banking Services and Fees.

BANKING 101. Different Types of Banking Institutions  Commercial Bank  Serves both individuals/businesses  Well located Branches  Broad range of services.

Personal Finance Savings and Checking Accounts. How Banks (Do Not) Work Banks do not hold all of our money when we deposit it.

Glencoe Business and Personal FinanceCopyright © by The McGraw-Hill Companies, Inc. All rights reserved.

Financial Literacy Vocabulary Terms How is money used in society? How do I pay for goods and services? How do I keep track of my saving and spending? 1.

Chapter 10 Banking.

11/10/2009.  Roaring 20’s  1920’s turmoil  Banks were risky and reckless with their practices frequently accepting high-risk loans.  1 - Businesses.

Credit Unions: Leading the Way “Not for profit, not for charity, but for service”

BankingUnitReview JEOPARDY Term The length of time you are required to keep your money in the account is known as the ___________.

Chapter 10 Money and Banking.

Banking Chapter 5. Section 5.1 Objectives Identify types of financial services Identify types of financial services Describe the various types of financial.

 How to Manage Your Cash › Daily Cash Needs  Lunch, movies, gas, or paying for other activities  Carry cash  Go to an ATM  Credit Card  Know pros.

Chapter 10 Section 3.  Service 1: Customer Can Store Money  Banks store currency safely  Insured against failure  Safety deposit boxes  Service 2:

Miss Smith 7 th Grade Civics *pgs  Collateral- property used to guarantee repayment of a loan.

1.7.3.G1 © Family Economics & Financial Education – Revised October 2004 – Financial Institutions Unit – Financial Institutions Funded by a grant from.

1 Hello. What will we learn today? What will we learn today? Describe the functions of financial markets Unit: Money and Banking Day 2 What have.

Unit 5: Personal Finance Services of the Bank  Place to store your money safely – an Account.

Banking Chapter 5 – Selecting Financial Services & Institutions.

Part 2: Accounts Dollars & Sense. Accounts Offered by Banks & Credit Unions Savings Certificates of Deposits (CD’s) Money Market Checking.

Chapter 10 Banking.

Indiana Department of Financial Institutions BANK ON IT Money Smart Course.

Savings Accounts Chapter 30. Today’s Schedule Yesterday’s Quiz Review Homework Collection No Homework – Enjoy your break Chapter 30 Quiz.

2 You Will Know Major types of insured financial institutions Basic banking terms Differences between banks and check-cashing services Bank employees.

CHAPTER 23 SECTION 1 Section 1 Objectives: -Name and describe the four major types of financial institutions. -Discuss how electronic banking may change.

Template by Bill Arcuri, WCSD Who Wants to Be a Millionaire?

Comparing financial institutions. Credit Unions A cooperative financial institution that is owned and controlled by its members and operated solely to.

 Direct deposit  Automated teller machine (ATM)  Debit card  Point of sale transaction  Commercial bank  Savings and loan association (S&L)  Credit.

Banking. Why banks?  Security: FDIC (Federal Deposit Insurance Commission), insured up to $250,000  Convenience- access your money almost anywhere 

Reasons we save... Emergencies Purchases Wealth building (future)

Banking Services and Types of Money. Let’s look at some of the services offered by banks… Savings Account: Pays interest, has no maturity date, and from.

Section 5.1 Financial Services and Institutions

* Do you have a checking account or credit card that you pay for? Do you know how to manage a checking account or credit card? * Please put your responses.

Trade and Banking NCSCOS 8.08/8.09.

Savings Accounts.  Unexpected expenses  Opportunities  Major Purchases  Flexibility  Achieve Long Term Goals.

Chapter 17 Financial Services 1 ©2008 Thomson/South-Western.

©2013 Cengage Learning. All Rights Reserved. Business Management, 13e Financial Services Financial Institutions Common Financial Services.

4.1: DEPOSIT ACCOUNTS CHAPTER 4: DEPOSITS IN BANKS.

Financial Literacy. Types of Financial Services  Savings Deposit  Payment Services Checking account  Borrowing Short-Term Long-Term.

Miss Smith 7 th Grade Civics *pgs  Collateral- _________ used to guarantee __________ of a loan.

PERSONAL FINANCE PERSONAL BANKING BY MR. BROWN. TOPICS Bank Accounts Check Writing ACH Transfers vs. Wire Transfers Bank Fees FDIC Debit Cards vs. Credit.

Section 5.1.  Identify types of financial services  Describe the various types of financial services.

Savings Options, Features and Plans Section 2 Notes Chapter 10 Unit 4: Savings and Investing.

Fri. 4/15. Ch. 10 Money and Banking 10.3 Notes “Banking Today”

Banking Basics!. Why The Bank? Banks and credit unions are safe and convenient places to keep your money. Most account balances are insured up to $100,000.

Savings Options, Features and Plans Section 2 Notes Chapter 10 Unit 4: Saving.

Chapter 5. Financial Services Borrowing Short Term Regular Savings Money Market Accounts Long Term Certificates of Deposit U.S. Savings Bonds Investment.

PRE- TEST #1 What is the function of the Federal Reserve System?

Banking Chapter 14 What types of financial services might help you to better manage your cash flows?

It’s just as exciting as you think!

Numbers In the U.S. Over 11,000 banks

Chapter 5 Section 5.1.

Chapter 5 Section 5.1.

Money & Banking Subtitle.

Banking Services Banks perform many functions and offer a wide range of services to consumers. Storing Money Banks provide a safe, convenient place for.

Presentation transcript:

Banking: Managing your money Chapter 4 Part 2

Saving Accounts May save money for a specific purpose or just build to reserve for a rainy day, you may withdraw money at any time Most savings accounts come with a simple interest rate EX 4-3 Certificate of deposit (CD)- an account that earns a higher rate than a regular savings account

Certificate of Deposit (CD) CDs earn more than regular savings accounts because you commit to leaving your money in the bank for a certain time period, if you take money out before the time period is up, you will be penalized with a withdrawal fee. EX 4-6 Money Market Accounts- checking accounts that pay interest on the amount you have deposited in the account They allow you to take out money at anytime EX 4-7

Money Market Accounts Debit Card- is a plastic card that looks similar to a credit card that has your checking and savings on it ATM- automated teller machine When you purchase with a debit card, the money is taken out of your checking account immediately Outstanding check- a check that has not yet been returned to the bank for payment (like credit) EX 4-9

FDIC Insurance FDIC (Federal Deposit Insurance Corporation)- is an independent agency of the federal government, that keep the financial system in the U.S. stable. FDIC will ensure bank accounts for $250,000 Savings and Loan association- also called thrift and loan, offers savings accounts, CDs, and checking account services. Credit Unions- nonprofit cooperatives, they exist to serve their members