Financial Literacy

A type of investment that invests in a mix of different types of investments

• Money Market Account

• Mutual Fund

• Savings Account

• Reconcile a Bank Statement

A share of ownership in a company

• Money Market Account

• Mutual Fund

• Savings Account

• Reconcile a Bank Statement

When you spend money on something to gain profitable returns (stocks, bonds, mutual funds...)-- best for long-term financial goals-- usually higher interest than savings account but involves RISK (could lose money

• Money Market Account

• Mutual Fund

• Savings Account

• Reconcile a Bank Statement

Comparing your records to your banks to verify that the bank balance is correct and above zero after everything has cleared in order to ...- avoid spending more than what is in your account.- detect any errors in your account.- determine if you were charged any fees.

• Money Market Account

• Mutual Fund

• Savings Account

• Reconcile a Bank Statement

Common Features of FInancial Institutions

• Check Cashing

• ATMs, Checks, Direct Deposit

• 401K

• CDs

a company that will cash your paycheck or loan you money to pay back when you get paid but you will have to pay HIGH fees and interest!

• Checking Account

• Savings Account

• Simple Interest

• Check Cashing or Payday Loan Companies

A bank account that is good for everyday transactions like making payments and purchases and withdrawing money -- You earn low or no interest!

• Checking Account

• Savings Account

• Simple Interest

• Check Cashing or Payday Loan Companies

Interest earned or paid only on the original principal amount invested

• Checking Account

• Savings Account

• Simple Interest

• Check Cashing or Payday Loan Companies

a bank account that earns interest and is used to store money for financial goals -- may limit the number of withdrawals each month -- may require a minimum balance

• Checking Account

• Savings Account

• Simple Interest

• Check Cashing or Payday Loan Companies

interest earned or paid on BOTH the principal amount and any interest already earned

• Compound Interest

• Investment

• Stock

• Mutual Fund