1. Textbook: Chapter 9

2. 1.Do you think saving is important? 2.What problems might you face if future if you do not save? 3.What are some things you should consider when saving your money? 4.What options do you have for saving your money?

3. What is the First Step to Saving your money? Budgeting Your Money!!!

4. Facts: Coffee drinkers spend an average of ________ for their cup of morning coffee Experts say that same ______ could provide a shot at a lucrative retirement Source: http://www.thebostonchannel.com/r/4287774/detail.html

5. _____ dollars a day, _____ a month, @ 5% interest over 10 years That adds up to __________! In 20 years... it's __________! Invest that _______ a month of coffee money for 35 years... you could have __________ - refers what would happen if the money spent on coffee every day was invested in the market Compound Interest Calculator

6. ____ dollars a day, _____ a month, @ 5% interest over 10 years That adds up to __________! In 20 years... it's __________! Invest that _______ a month of coffee money for 35 years... you could have __________ Source: http://www.thebostonchannel.com/r/4287774/detail.html

7. How do I Budget? Income Expenses Fixed Variable What do we do if we dont have enough $$$$?

8. Income- Expenses= Surplus $$ left over Three Choices of where to put it: Spend it Save it Invest it

9. What else can you do to save?!?!?!!? Coupons Price matching Rewards points/cards Rebates Other ideas from you?!?!? Lets watch how its done!! Video 1 Video 2

10. Savings Are used to meet immediate needs or emergencies. Long Term Over 1 (one) year. Short Term Less than 1 (one) year Give One Get One

11. What are some methods for saving your money? 3 Common Tools: Savings account Money Market account Certificate of Deposit (CD) Well talk about the difference!

12. Pay yourself first (A little can add up) Save this each week

13. Money Market Accounts Like a Checking & Savings Account Combined Limit # of checks a month Usually require a balance in excess of $1000 Average yield 1.5-2%--Better than a Savings Account

14. Certificate of Deposit Time Deposit Banks pay a fixed amount of interest for a fixed amount of time on a fixed amount of money.

15. Two Ways to Think #1Save now, Have money for future? #2Spend now I might not be here later? Other considerations to savings: What will saving money result in? How does age effect investments? What are three reasons baby boomers arent saving? Which would you choose and why?