Banking

Where are two places you can put your money besides at home?

• piggy bank or shoe box

• bank or credit union

Tags

CCSS.L.1.6

CCSS.L.3.6

CCSS.L.4.6

CCSS.L.K.5A

What are the benefits of putting your money in a bank account?

• My money can't be stolen or lost

• My money can grow if I keep it in a bank account

• All of the above

Which of the following is a FALSE statement?

• Banks are insured by the government

• Money can be stolen or lost if you keep it at home

• If your bank goes out of business, you lose your money

• Your money can grow if you keep it in a bank account

A credit union is different from a bank mainly because ______________________.

• credit unions are in business to make a profit

• credit unions are not insured by the government, so your money is not as safe

• credit unions invest in the community and ofter offer classes on opening businesses and managing debt

Tags

CCSS.RI.6.2

CCSS.RL.11-12.2

CCSS.RL.6.1

CCSS.RL.6.2

CCSS.RL.7.1

Which of the following is a way your bank can make money?

• Your bank can charge you a fee for using an ATM from another bank

• Your bank can charge an annual or monthly fee just for having an account

• Your bank can charge fees if your balance goes below a certain amount

• All of the above

What are two types of bank accounts?

• credit and debit

• checking and savings

• business and school

What are the benefits of putting your money in a checking account?

• I can not access my money.

• I can easily access my money by using a debit card or check.

• My money makes interest and grows.

What are the benefits of putting your money in a savings account?

• I can not access my money.

• I can easily access my money by using a debit card or check.

• My money makes interest and grows.

The lowest amount of money you need to maintain your account to avoid a fee is the ________________.

• principal balance

• minimum balance

• annual fee

Tags

CCSS.7.RP.A.3

Which of the following is a FALSE statement?

• You can purchase items with money from your checking account by using a debit card

• You can purchase items with money from your checking account by writing a check

• A debit card can be used to withdraw cash from an ATM

• A debit card can be used to pay for a purchase if your checking account is empty