The Adventures of Interest Ray Pleased to meet you! I'm Interest Ray, and I'm a special person at a bank or credit. I'm the reason that saving your money.

Slides:



Advertisements
Similar presentations
How do economic conditions affect financial decisions?
Advertisements

Credit. Borrowers & Lenders Find Your Match! Whos Your Middle-Man???
Good Day This is your 30-Second $ Asset Development $ Training ENJOY Click here to begin.
Halloween is gonna suck this year Sure, no problem. Umm, there’s one other thing… my employer might not verify my employment. Would that be a problem?
Simple Interest I =Prt I = Interest P = Principle r = rate t = time
INTEREST What does that mean?. What interest would anyone have in lending you money?
Simple Interest Math 8. Simple Interest Can be interest gained (earned) or interest paid Interest paid- costs you money * loans * credit cards Interest.
Simple Interest 7th Grade Math.
Simple Interest Formula I = PRT.
Using a Bank or Credit Union consumer.gov. Why use a bank? A bank is a place to keep your money safe A bank’s services include: – checking accounts and.
Credit and Borrowing Vault Lesson 4.
Math to Us By: Lee Davidson & Megan Pick We like Money!  Add it up… what could you buy?
Grade 5 Copyright © 2014 by Write Score LLC. o Transition words and phrases create organization within an opinion piece. o Transition words and phrases.
About | interest | saving | electronic fund transfer | checking | calculators | games | glossary project goal. redesign a web-based tool for teaching basic.
How a home loan becomes a security?. Firstly, I choose a house that I would like to buy. Than go to the saving Banks.
How to finance a car So you need a loan…. What is a down payment? This is the amount you already have saved up in cash to pay towards your car.
Blocks 3 and 7 Vocabulary Group 5. appreciate (v)
Simple and Compound Interest Lesson REVIEW: Formula for exponential growth or decay Initial amount Rate of growth or decay Number of times growth.
Mr. Stasa – Willoughby-Eastlake City Schools ©  If you put $100 under your mattress for one year, how much will you have?  $100  Will the $100 you.
Using A Check Book 3 rd Grade Math Jeanette Conner.
Interest, discounts, and sales
FINANCE$ “Dollars and Sense”. “How Do I Pay For Stuff??” When buying a product or service you can use… When buying a product or service you can use… Cash.
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.
Budgeting. FIRST STEP HOW MUCH CAN YOU AFFORD? How can you do this?
Who wants to be a Millionaire? Click to begin game.
SIMPLE AND COMPOUND INTEREST Since this section involves what can happen to your money, it should be of INTEREST to you!
Using Percents to Solve Problems
The Cost of Credit BBI2O Introduction To Business Unit 3: Finance 3.D Credit.
Section 5-1 Monthly Payments. What do you know about Credit? Credit is whenever goods, cash, or services are provided in the promise to pay at a future.
Credit and Banks How does credit work and what do banks do?
Fifth Third Bank, Member FDIC. Eisenhower High School September 15, 2013.
Value: How our economy is measured. Money/currency: The cash and coins we use. Treasury: controls the currency of our country. Economy: Products, people,
Lesson 5-8 Simple Interest.
Compound Interest ©Dr. B. C. Paul 2001 revisions 2008, 2011 Note – The subject covered in these slides is considered to be “common knowledge” to those.
UK 101 Money Management. Overview What is a Budget  SMART Goals  Income Received  Expenses spent  Sticking to Your Budget Saving $$$$  Tips Common.
Ryan and Martin’s Fraction Adventure By Alli Smigel.
How Much Do You Know About: Money?. HOW TO PLAY? ~GET A PENCIL AND PAPER ~IN THE BOTTOM LEFT CORNER, CLICK ON THE IMAGE OF A PROJECTOR SCREEN UNROLLING.
Chapter 11.1 notes. Saving Saving = not spending $ Investment – use of income today for a future benefit.
A Guide to College and Financial Aid Planning Class of 2012.
Lesson 8-6 Pages Simple Interest Lesson Check 8-5.
SAVING AND BORROWING Saving and borrowing Money Works: Level 2 Topic 1.
2 You Will Know Major types of insured financial institutions Basic banking terms Differences between banks and check-cashing services Bank employees.
Warm UP 1.What is the difference between gross pay and net pay? 2.What is the difference between a deduction and a bill? 3.What is the difference between.
Start Building the Bull ---- Wall Almost all engineering projects cost money to do. The money that it costs to do the project is called capital In order.
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.
Rate of Return and the Cost of Capital A big rate of return means you have to come up with a lot of extra money to get the investors to put-off their Dairy.
LLLLLLLeeeeeeeeettttteerssssss. Read the definition and then put the letters in the correct order in order to find the word defined.
* 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.
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.
Copyright 2014 © W. Seth Hunter ConsumerMath.org L9.1 Understanding Interest Interest can be a life long friend or an unforgiving master. Making interest.
Financial Literacy Buying a Car.... Finance Options: Savings – Put a regular amount into a Bank Account each month. Expect to receive around 2.75% interest.
Junior Achievement 3.2 “Just Checking”. Vocabulary Review  Bank  A place of business that receives money, lends it to borrowers, and provides other.
1. Debt, Interest & Payments © moneyskool.org. People borrow money for all kinds of different reasons – to buy a house, go to university, start a business.
Bar English
APR Quiz Question 1 You’ll see APR listed whenever you are able to borrow money, but what does APR stand for? A Annual Percentage Rate B Automatic Percentage.
Come on Linus! Don’t tell me that your car is breaking down again!
Learning Objectives 1.To understand the basic principles of saving, debt and borrowing. 2.To understand what the Annual Percentage Rate (APR) is and how.
 A holding place for money at a bank.  The amount available to spend in an account.
INSTALLMENT LOANS Chapter 5, Section 3. I can… Calculate the installment price and finance charge on an installment plan purchase. Calculate the number.
A: This is your cash drawer. Your supervisor has some instructions for you. B: When your bill piles get too large, count them into stacks of 100 dollars,
How to find percent of a number using a decimal. Find 30% of Step 1: Change the percent to a decimal. x75 Step 2: Change the “of” to a multiplication.
ATTITUDE INVENTORY Debtors, Creditors and Bankruptcy Business Law II -- Chapter 33.
SALT and SALT logo are trademarks of American Student Assistance. © 2014 American Student Assistance. All rights reserved.
Shopping Series. 第 2 页 Shopping in a clothes store Dialogues IntroductionPractice.
Borrowing and saving Savings. about the risks and consequences of borrowing money that it’s important to think carefully and look at all of the information.
INFINITIVE OF PURPOSE WHY?
Unit6 Can I help you. Mary 1.pronounce and spell ten words correctly 2.use the sentences to ask for and offer service during shopping fluently 3.with.
What are different ways you can save and invest your money? SS.8.FL.5.1 Describe the differences among the different types of financial assets, including.
Goal Setting 2nd Grade ICAP
*No Checking Account Payday Loans* Gain Advance Cash to Meet Your Financial Woes
Presentation transcript:

The Adventures of Interest Ray Pleased to meet you! I'm Interest Ray, and I'm a special person at a bank or credit. I'm the reason that saving your money in a bank, savings and loan or credit union is super smart. I'll explain what interest is, how you get it, and why the bank gives it to you. You see, you're a special person to us, too!

The Adventures of Interest Ray Interest is money that the bank gives to you for saving your money. The more money you keep in your savings account, and the longer you leave it there, the more money the bank will give you. That's why it's good to save as much as you can for as long as you can.

The Adventures of Interest Ray The bank keeps track of how much money you have saved. That's one of the things in your passbook. They multiply how much money is in your account by something called an interest rate. The number they come up with is the amount of interest you get. They add the interest to your account, and you have that much more money.

The Adventures of Interest Ray I bet you're wondering why the bank would give you money for saving your money! It doesn't seem to make much sense, does it? Well, there's a very good reason! You see, when you save your money in the bank, it doesn't just sit there waiting for you to come back and get it. The bank uses your money to make more money. In a way, when you save your money, you're really loaning it to the bank. Interest is what the bank gives you for letting them use your money to make more money.

The Adventures of Interest Ray One of the ways that the bank uses your money is to loan it to other people who need it. When people want to buy something special, but don't have enough money, they go to the bank to borrow it. They tell the bank what they want to buy, and the bank gives them the money to buy it.

The Adventures of Interest Ray When you borrow money from the bank, it's not yours to keep. You have to pay it back. You pay the bank a little bit at a time. You pay the bank what you borrowed, and you also pay them a little bit extra for letting you borrow it. The little bit extra is called...interest!

The Adventures of Interest Ray The money that people pay the bank for borrowing money is the money that the bank pays you for saving it. You can always think of interest as being......"A little extra." Interest is the little extra you get for saving your money.... and Interest is the little extra you pay for borrowing it.

The Adventures of Interest Ray Interest Ray, my mom has a bank account that she calls a checking account. Can we find out about checking accounts? You sure can kids! Checks, the puppy, can tell you all about Checking Accounts…he's an expert! Thanks for explaining interest to us, Interest Ray. It sure makes sense to save money. And it's nice to know we can borrow money if we need it, too.

The Adventures of Interest Ray Interest Ray, my mom has a bank account that she calls a checking account. Can we find out about checking accounts? You sure can kids! Checks, the puppy, can tell you all about Checking Accounts…he's an expert! Thanks for explaining interest to us, Interest Ray. It sure makes sense to save money. And it's nice to know we can borrow money if we need it, too.