Unit 4: Savings & Checking Accounts. Plan for the Unit... So far ▪ Day 1: Vocabulary & Vocabulary Comp Check and Start Building the.

Slides:



Advertisements
Similar presentations
Money Management Key Terms.
Advertisements

Checking and Savings Account Chapter 5. Tools of Monetary Asset Management Low-cost, interest-earning checking accounts (Type 1). Interest-earning savings.
Depository Institution Discovery G1 © Take Charge Today – Revised April 2006– Depository Institution Discovery – Slide 2 Funded by a grant from.
Financial Institution Frenzy G1 © Family Economics & Financial Education – April 2006 – Get Ready To Take Charge of Your Finances – Financial Institution.
Checking Account & Debit Card Simulation Understanding Checking Accounts and Debit Card Transactions.
Checking Accounts Checking Accounts.
© Thomson/South-WesternSlideCHAPTER 231 BANKING AND CREDIT 23.1Financial Institutions 23.2Checking Accounts 23.3Credit and Its Use Chapter 23.
Teens 2 lesson six using banking services presentation slides 04/09.
$$$$$$$ Know your Money! Financial Institutions and Services.
Chapter 5 Vocabulary Review
Checking Accounts. Things Not To Do Don’t write checks for more money than you have in your account. ▫You could be charged an overdraft fee by your financial.
Where should i put my money? Types of Accounts Checking? Savings? Under the mattress?
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.
FINANCE Chapter 9 Checking Accounts and Other Banking Services.
Chapter 5 The Banking System
Chapter 3 Banking Services
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.
Saving and Investing Part 1 Personal Finance Mrs. Brewer.
BankingUnitReview JEOPARDY Term The length of time you are required to keep your money in the account is known as the ___________.
Checking Accounts. Types of Checking Accounts Basic Free Interest-Bearing Joint Express Lifeline Senior/student Money market.
 CONVENIENT  HELPS YOU KEEP TRACK OF MONEY: USING THE CHECK REGISTER OR ONLINE BANKING  SAVES YOU MONEY – EXPENSES ARE LESS THAN MONEY ORDERS.
Why It’s Important Paying with checks is the most common and safest medium of exchange.
Intro to Banking and Credit Two basic types of accounts 1.Savings – savings accounts pay interest on the money in the account. This is because the bank.
Checking Accounts Chapter 9. Basics Check: ▫Written order to bank to pay the amount stated to the person or business named on it. Demand deposit: ▫Money.
Chapter 5 The Banking System. Slide 2 What Is the Purpose of a Checking Account? 5-1 Checking Accounts A checking account is a demand deposit account.
Unit 5: Personal Finance Services of the Bank  Place to store your money safely – an Account.
Bank Accounts. Deposit Account: Deposit Account: An account at a banking institution which allows the account holder to deposit money into or withdraw.
Money Management Key Terms. Money Management Paycheck Key Terms.
Banking Savings Checking Credit Cards
Section 3.1 CHECKING ACCOUNTS. How do people gain access to money they keep in a bank?  How many of you have a savings account?  How many of you have.
Banking Vocabulary.
Copyright © 2009, Thinking Media, a division of SAI Interactive, Inc. All rights reserved. The Career Ready 101 logo is a registered trademark and Career.
 A place you put money that you spend quickly  Not money intended for saving  Monthly statement sent to your house by the bank.
What does this mean to you?. FCS 7 TH GRADE Money Management.
Lesson 8, Unit 3 On Banking This presentation will teach you about banks and credit unions—how they work and why they are a good place to keep your money.
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.
* 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.
Financial Services and Institutions Name_____________________________ 1.
Identify and define the types of accounts available. Analyze account management strategies Correctly fill out a check, deposit slip, and check register.
Simple Interest. Simple Interest – * the amount of money you must pay back for borrowing money from a bank or on a credit card or * the amount of money.
© 2003 SOUTH-WESTERN PUBLISHINGCHAPTER 23Slide 1 CHAPTER 23 BANKING AND CREDIT 23.1Financial Institutions 23.2Checking Accounts 23.3Credit and Its Use.
Financial Institution Frenzy G1 © Family Economics & Financial Education – April 2006 – Get Ready To Take Charge of Your Finances – Financial Institution.
Financial Algebra © 2011 Cengage Learning. All Rights Reserved. Slide CHECKING ACCOUNTS Understand how checking accounts work. Complete a check register.
Checking & Savings Accounts Economics What is a Checking Account?  Common financial service used by many consumers (a place to keep money)  Funds.
Financial Institution Frenzy G1 © Family Economics & Financial Education – April 2006 – Get Ready To Take Charge of Your Finances – Financial Institution.
Where Do You Save Your $$$ ? Gr. 4 Financial Literacy.
Chapter 5 Banking Financial Services and Institutions Section 5.1.
What are check OVERDRAFTS and how can this impact my account and other accounts? 1. Why should I maintain a check register? 3. How do I reconcile.
Checking account - an account held at a bank, credit union or other financial institution in which account owners deposit funds. Account owners have the.
Do Now Why do people have checking accounts?. Unit 4: Lesson 13: Checking Accounts Day 1 Objective: identify vocabulary terms related to checking accounts.
Using Bank Services Chapter 33. Checking Accounts A customer deposits money in an account and receives a book of checks. May deposit or withdraw money.
Chapter 5 The Banking System. Choosing a Bank Research local bank websites. Select a bank with the most ATMs in your proximity. Look for banks that can.
Banking Review. Bank Business that stores money for individuals and businesses.
Chapter 5. Financial Services Borrowing Short Term Regular Savings Money Market Accounts Long Term Certificates of Deposit U.S. Savings Bonds Investment.
 Two types of banks – for profit bank and credit unions  Credit unions are local and member owned – not for profit – limited sometimes in services 
Teens 2 lesson six using banking services presentation slides 04/09.
Topic 5 – Tracking Your Money
Mrs. Swope Family and Consumer Science
Tracking Your Money Standard 4. Managing a Bank Account
Avoiding Common Banking Fees
Money and Banking Checking Accounts.
Chapter 3 Banking Services
CHAPTER 5 The Banking System
Financial Concepts &Terminology
Unit 3-1 CHECKING ACCOUNTS
using banking services
Teens 2 lesson six using banking services presentation slides 04/09.
using banking services
Chapter 5 The Banking System
Presentation transcript:

Unit 4: Savings & Checking Accounts

Plan for the Unit... So far ▪ Day 1: Vocabulary & Vocabulary Comp Check and Start Building the

Banking Video

Vocabulary!!!

Check ▪ A piece of paper that orders a bank to take money from an account

Bank ▪ A business that offers financial services

Checking Account ▪ A bank account where you can use checks in order to pay expenses

Withdrawal ▪ To take money out of a bank

Deposit ▪ To put money into a bank

Savings Account ▪ A bank account used to save money and earn interest

Debit Card ▪ A bank card that allows you to use an ATM

Automated Teller Machine (ATM) ▪ A machine that lets you access your bank account at any time

Principal… No, not Mr. Martinez ▪ The amount of money in a bank account

Simple Interest ▪ Interest on the principal only

Compound Interest ▪ Interest on the principal and the interest already earned

Certificate of Deposit (CD) ▪ A savings account with a minimum balance, a fixed interest rate and a fixed period of time

▪ A card with the name, address and authorized signature of an account holder. Signature Card

Overdraft ▪ A deficit in a bank account caused by drawing more money than the account holds.

Overdraft Protection ▪ A line of credit that banks offer to their customers to cover their overdrafts. It kicks in when a customer writes a check for more than the amount in their account.

Check Register ▪ A booklet used to keep track of the balance when a check is written or a deposit/withdrawal is made from an account

Bounce ▪ To refuse to pay a check written for more money then the amount in an account

Bank Statement ▪ A bank form usually sent each month to the account holder that lists all the checks paid, deposits, withdrawals, service charges and the account balance

Reconcile ▪ To compare the information in a check register to a bank statement and correct any mistakes

Now……….Lets Play Liar Liar ▪ Deposit means to put money into an account, Withdrawal means to take money out, but you can only take money out with a debit card ▪ Banks are financial institutions, but they use checking and savings accounts

Feedback: Privacy Policy Feedback
Do Not Sell My Personal Information
About project: SlidePlayer Terms of Service

© 2025 SlidePlayer.com. Inc. All rights reserved.