1. Welcome Homeroom!  Find a seat and settle in  Where are you going for Knight Time????  IT’S DEAR DAY !!!! GRAB A NOVEL!

2. Welcome C&E Students!  Grab your handouts and settle in to your new seat (posted by calendar)  Roll Call Question: Would you rather always be able to tell when someone is lying or always get away with lying?  Bell Work: Prepare for your quiz!!!!  5.1 Intro to Econ  5.2 Budgeting

3. SHHH! Quiz in Progress!  All you need is a pen/pencil  Have a Question? Ask a question!  When finished turn in to your class tray  Keep working on your College & Career Readiness handout from yesterday.  Booklets, articles and questions are in the box next to the class tray.

4. Warm Up  What is the purpose of a bank? (There are several!)  Keep money safe  Provide interest on deposits  Lending money to firms, customers and homebuyers  Offering financial advice and services

5. 5.3 – Credit & Debit Compare and contrast debit and credit

6. I. Checking v. Savings  A. Checking Account : A bank account where you can easily transfer and use your money

7.  1. Debit Card : $ that can be easily transferred in any transaction from your checking account (online, store, ATM machine)  2. Check : written statement asking for $ to be taken out of checking account

8. Checks 101

9. 3. Credits and Debits to Your Account  a. (+) Credits : $ you are adding to your account (deposits, paycheck, interest)  b. (-) Debits : $ you are removing from your account (writing a check, using your debit card, withdrawing $ from an ATM)

10. Let’s Write a Check Together!  You owe Mr. Switzer $50.36  You bought an AK Sweatshirt from him  We are paying him today 04/15/2015

11.  B. Savings Account : A bank account where you store money and can earn money  1. Interest : earning extra money for lending it out

12. Let’s Make a Deposit!  You just had a birthday and received a paycheck. Now you need to make multiple deposits into your checking account:  $150.00  $25.00  $364.72 - Check

14. Let’s Balance our Checkbooks!

15. YOUR TURN!  Independently or with your neighbor complete the Keeping a Checking Account handout.

16. Closure: Write your Friend a Check!  Use the blank check to pay back your friend for the good/service they provided for you.  Once you receive a check from another person, double-check it to make sure it is correct then turn it in to Ms. Peach

17. Welcome C&E Students!  Grab your handout and settle in  Roll Call Question: Hard or Soft taco shells?  Bell Work:  Give an example of credit & a debit to your checking account.  What is interest in regard to a savings account?

18. Reminders  Test Next Wednesday  College & Career Readiness Handout/Letter/Questions due Tomorrow

19. Unit Opportunity: Comparing Debit and Credit  https://www.youtube.com/watch?v=c0m So6PN5yw https://www.youtube.com/watch?v=c0m So6PN5yw  Watch this video and provide Ms. Peach with a 1 page reflection (TYPED) of when and why we would use credit cards sometimes and debit cards other times  Due Next Thursday (04/23/2015)  Times New Roman, 12 pt Font, double spaced, 1” margins

20. Story Time!  Let’s read some more about credit  After we finish reading complete the questions on the back

21. II. Credit v. Debit  A. Credit : spending $ that you don’t have (borrowing)  1. Interest : Paying extra $ for borrowing

22.  a. Annual Percentage Rate (APR) : shows you how much your borrowing will cost you over a year.  (1). This can help you decide which credit card is best for you

23. B. Types of Credit  1. Credit Card : can borrow a certain amount of $ to spend  2. Student Loan  3. Car Loan  4. Mortgage (Home Loan)  a. Foreclosure : loosing your home because you do not pay your mortgage

24. Is Establishing Credit Necessary?  YES!!! In the 21 st century you need to establish credit if you want to do the following things…  Buy a Home  Buy a Car  Receive a good interest rate on a loan Having a good credit score shows lenders that you are reliable and will pay them back

25. C. Est. Good Credit  1. Credit Score : a number assigned to a person that lets lenders know your ability to pay back a loan

26.  2. To est. good credit you must start buying things using credit and pay that money back in a timely manner.  Helpful tips…  Have bills in your name  Always pay bills on time or earlier and try to pay more than the minimum payment  Keep a steady job  Don’t move often  Keep your debt low  Use your cards responsibly  Stick to a budget

27.  3. Credit Line : how much money is available for borrowing  4. Financing : borrowing money to pay for an item you will pay off over time  5. Debt : money that you owe someone (person/business/organization) else

28. Debit Card Pros You don’t to carry cash/checkbook It’s safe b/c only you know your PIN You are using the $ you actually have which can help with budgeting

29. Debit Card Cons You must have enough $ in your account to make purchases You have to remember your PIN to access cash If you don’t keep track of your purchases, you could overdraw and have to pay a fine

30. Credit Card Pros You can buy things before you have saved the entire purchase price It is a way to pay for emergency expenses Using it wisely and paying off on time can help you improve your credit score

31. Credit Card Cons You may have to pay a yearly fee for the card You pay interest on the unpaid monthly balance. B/c of interest, you may pay more for items than if you paid cash

32. Comparing Credit & Debit Card TypeProsCons Debit Card You don’t have to carry cash/checkbook It’s safe b/c only you know your PIN You are using the $ you actually have which can help with budgeting You must have enough $ in your account to make purchases You have to remember your PIN to access cash If you don’t keep track of your purchases, you could overdraw and have to pay a fine

33. Card TypeProsCons Credit Card You can buy things before you have saved the entire purchase price It is a way to pay for emergency expenses Using it wisely and paying off on time can help you improve your credit score You may have to pay a yearly fee for the card You pay interest on the unpaid monthly balance. This means paying more for items than they really cost!