Key to the Future Chapter 1, Lesson 2 Warm-Up Questions CPS Questions Note for teacher: Use “Pick a Student” button in CPS

Key to the Future $ The Advantages of Bank Services $ Types of Bank Services $ How to Choose a Bank $ How to Conduct Banking Transactions $ Electronic Banking Chapter 1, Lesson 2

Key to the Future Your summer part-time job has allowed you to save $300, and your grandparents sent $300 for your birthday. You have soccer gear you want to purchase for $90. The rest, $510, you have in your bedroom. Should you feel comfortable with this? Explain why you would consider a bank account at this time. What type of account would you open, savings or checking, and why? Chapter 1, Lesson 2 Note for teacher: Use “Pick a Student” button in CPS Photo courtesy of Shutterstock

Key to the Future $ Money is kept safe $ Easily accessible $ Easily track money and perform financial transactions $ May receive interest $ Demonstrate responsibility Chapter 1, Lesson 2 Photo courtesy of Shutterstock

Key to the Future $ Savings Account – money you want to keep $ Checking Account – money from which you can withdraw Chapter 1, Lesson 2 Photo courtesy of Shutterstock

Key to the Future $ Certificates of Deposit $ Direct Deposit $ Loans $ Credit Cards Chapter 1, Lesson 2 Photo courtesy of Shutterstock

Key to the Future Things to consider: $ Convenience $ Friendly Staff $ Hours $ Fees $ Types of Accounts $ Online Services $ Interest Rate $ Reputation (Insured?) Chapter 1, Lesson 2 Photo courtesy of Shutterstock

Key to the Future $ Credit Unions are not-for-profit banks owned by members: owned by members: $ Affiliated with an organization $ Typically charges lower fees $ May provide higher interest rates $ Same types of Accounts $ Reputation (Insured?) Chapter 1, Lesson 2

Key to the Future Note for teacher: Use “Pick a Student” button in CPS Chapter 1, Lesson 2 Learning Check Questions CPS Questions 3 - 4

Key to the Future $ This activity enables students to identify the criteria used to choose a bank. $ On the worksheet provided list personal criteria you would use to evaluate a bank using considerations listed in the textbook. $ Be prepared to share your answers with the class. Chapter 1, Lesson 2

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Key to the Future $ On the handout provided complete the steps to pay a bill to the Acme Telephone Company: $ Amount: $43.29 $ Date: May 15, 2013 $ Be prepared to share your answers with the class. Chapter 1, Lesson 2

Key to the Future Chapter 1, Lesson 2 Graphic Available: english/graphics

Key to the Future $ Balancing – compare bank statement to your checkbook register $ Reconcile – verify your checkbook balances Photo courtesy of Shutterstock Chapter 1, Lesson 2

Key to the Future To balance your checkbook: 1. Start with the “New Balance” on your statement 2. Subtract any checks written that have not been recorded with the bank 3. Subtract any debits that the bank has not recorded 4. Add any deposits you made after the statement date The resulting number should be the same as your current balance on your checkbook register. Chapter 1, Lesson 2

Key to the Future Note for teacher: Use “Pick a Student” button in CPS Chapter 1, Lesson 2 Learning Check Questions CPS Questions 5 - 6

Key to the Future Chapter 1, Lesson 2 $Complete the checkbook register for the scenario provided in the handout. $On the worksheet enter the sample banking transactions. $Be prepared to share your answers with the class.

Key to the Future $ Online banking is offered by almost every bank $ Allows you to manage your banking on your computer $ Online bill paying services can save you money and time $ A good practice involves a combination of online banking with maintaining an accurate check register Chapter 1, Lesson 2 Photo courtesy of Shutterstock

Key to the Future Advantages of Online Banking: $ Convenience $ Personal Safety $ Time Saver Caution! Caution! $ Make sure to cross-check with register Chapter 1, Lesson 2 Photo courtesy of Shutterstock

Key to the Future Popular Electronic Funds Transfer (EFT) services: $ Direct Deposit $ Automated Teller Machines (ATM) $ Debit Card $ Pay-by-Phone $ Electronic Check Conversion $ Prepaid Debit Card Chapter 1, Lesson 2 Photo courtesy of Shutterstock

Key to the Future Note for teacher: Use “Pick a Student” button in CPS Chapter 1, Lesson 2 Learning Check Questions CPS Questions 7 - 8

Key to the Future Chapter 1, Lesson 2 $Read the article on Safe Internet Banking habits. $On the worksheet provided answer the questions on the article. $Be prepared to share your answers with the class.

Key to the Future $ The Advantages of Bank Services $ Types of Bank Services $ How to Choose a Bank $ How to Conduct Banking Transactions $ Electronic Banking Chapter 1, Lesson 2

Key to the Future Chapter 1, Lesson 2 Note for teacher: Use “Pick a Student” button in CPS Review Questions CPS Questions

Key to the Future $ Real-life issues in buying and selling Graphic courtesy of Shutterstock Chapter 1, Lesson 2