1. Money: Coins, Bills, Credit, Checking, Banks, Bargaining, and more

2. Coins 100 cents in a dollar 100¢ = $1 Don’t let size confuse you Faces of Historical Leaders Penny = 1¢ Nickel = 5¢ Dime = 10¢ Quarter = 25¢

3. Bills United States Dollar All bills same size All bills same color Faces of historical leaders Sometimes called “bucks” One Dollar = $1 Face of George Washington, first President Five Dollars = $5 Face of Abraham Lincoln, Civil War President who abolished slavery

4. Bills Ten Dollars = $10 Face of Alexander Hamilton, patriot and strong politician Twenty Dollars = $20 Face of Andrew Jackson, controversial President who opposed creation of a US National Bank

5. Credit Cards Works by a Credit Cardcompany paying a vendor, and you payback the CC company with an interest rate Can be extremely helpful Can be dangerously tempting Many Americans use them

6. Dangers of Credit Cards  They are easy to abuse since you can spend more money than you have.  Some people believe that since they pay off a few months in a row with no problem that they can accumulate more debt on their credit cards, this leads to problems.  If you are late on a payment they credit card company will, in some cases, charge you a rate of up to 20%.  For more information on the dangers of credit cards see the handout in your folders.

7. Checks Make sure you have enough money in the bank to cover the check. Review your bank statements promptly. Record all the checks you write in your checkbook register or use duplicate checks that create a carbon copy of each check. Deposit paychecks and other checks in a timely manner—most checks cannot be cashed after three months. Use a pen—never a pencil—to write checks. Write your checks legibly—scribbling can cause problems when the check is cashed. Fill in the check amount and payee well to the left to prevent someone from adding numbers to make the check larger or altering the payee's name. If you need to correct a mistake on a check, tear up the check, enter it as "void" in your checkbook register and write a new check. Don't sign blank checks—they can be stolen or used by someone else. Know where your checkbook and ATM card are at all times and report missing checkbooks, checks or cards to your bank immediately.

8. Banks Bank of America Citizens St. Anne’s Fall River 5 Sovereign

9. Establishing a Bank Account  When setting up a bank account you typically will need to deposit a minimum amount of money (can be as high at $100).  Banks will require that you have two forms of identification, such as a passport and drivers license.  The easiest way to transfer money into your account from your home country is through a wire transfer.  Remember that checks will typically be held by the bank for a few days before the money is deposited into your account. Withdrawals before the check has “cleared” will incur a late charge.

10. Bargaining American economy is largely non- negotiable Very few cases where bargaining is accepted: typically large purchases, such as cars, and sometimes rent