Unit 5 Your Money: Keeping it Safe and Secure Info from: NEFE High School Financial Planning Program.

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Presentation transcript:

Unit 5 Your Money: Keeping it Safe and Secure Info from: NEFE High School Financial Planning Program

What Do You Think? – Page 60 More than 55% of teens have a savings account. 17% of teens ages have a checking account. 64% of those ages have one. Likewise, only 13% of teens ages have a debit card. 55% of those ages have one. Among teens ages 16-17, 13% have one of their parents credit cards 36% of teens ages have their own credit card

What Do They Offer? – Page 61 Visit the Web sites of at least two financial providers. List the services provided and be prepared to share what you have learned. Example: Polish National Credit Union Services: Share Savings Accounts, Checking Accounts, CDs, Auto Loans, Mortgages, Home Equity Loans, Discount Rates for homeowners and auto insurance for members, Free Mobile Banking and On-Line Bill Pay, Fraud Protection Services, Passbook Secured Loans, IRA Accounts, NOW Accounts, Source: “Polish National Credit Union offers a wide range of services to our members, which are provided in person, electronically and via the Internet. We offer fully automated electronic services, i.e. Direct Deposit, free 24/7 Telephone Banking and free 24/7 PC Home Banking and Bill Payment. We offer free Notary services to our members. Polish National Credit Unions online services are available to our members 24 hours a day, 7 days a week and can be accessed from any Internet access location. Our members may order checks, pay bills, transfer funds, apply for a loan, or balance their checkbook at a time and place that is convenient for them.”

Assignment 5-1: Shopping for My Financial Services Provider Use the decision-making process to select a financial provider for your personal use. Be sure to consider your criteria as you compare the services of at least three providers. Discuss in Class

Exercise 5-C: Make the Deposit March 8, 2010 Jane Jones 13 State Street, Springfield MA

Exercise 5-D: Keeping Track – Page 65 Open Checking Account /1 3/3Groceries /3Books – Wayne’s Book World /4Weekend Personal Money /5Phone Bill – Automatic Pay /6Deposit – Pay Check Auto Withdrawal For Personal Checks /1

Exercise 5-G: The Pros and Cons of Automated Services Benefits Convenience (easy access to money) Personal Safety (not carry too much cash) Knowledge (track account daily) Saves time (direct deposit and on-line bill pay) Concerns Fees Security – more chance of your info being stolen