1. Banking

2. Checking Account

3. With a checking account… Write a check ATM Card Debit Card

4. Writing a check Company Name Address City, Sate Zip March 28, 2012 250.00 Lincoln Electric Company Two Hundred and fifty and 00/100 -------------------- March Electric Bill Jennifer Satorie

5. ATM Card (Automated Teller Machine) Is a card that is linked to your bank account. – Get cash fast – PIN (Personal Identification Number)

6. Debit Card Used like a credit card Money comes out of your bank account automatically. Like a check with out the paper Money has to be there.

7. What are some options… Minimum balances Annual/ Monthly Fees Overdraft protection Insufficient funds fees ATM Fees

8. Savings Account

9. Money set aside for short term goals Can still get cash out when you need Usually gains interest Very safe (FDIC – Federal Deposit Insurance Corporation)

10. Investing

11. Investing… Long term goals Money into longer term account Usually higher interest rate Usually fee to get money out early

12. Types of Investments Stocks – Own a part of a company – Can generate high returns (Buy low – Sell high) Bonds (US Govt, Corporate) – You are loaning the money to the government – Longer period of time (2-30 years) CD’s (Banks version of a Bond) – Certificates of Deposit – Loan money to the bank

13. cont… Mutual Funds – Usually done by an investor – Pools several investors money and invests IRA’s – Individual Retirement Account – Vary (before tax/after tax) - Usually a limit Retirement/ 401K – Money taken out and set aside to be used for retirement