What Account Am I?
Put money in and watch me grow! What account am I?
Savings!
YES
The Federal Deposit Insurance Corporation (FDIC) insures deposits up to $250,000 in each account you have with each FDIC-insured bank
Is credit FREE MONEY!?
NO! It is borrowed money you have to pay back plus some.
interact with real people and deposit cash
Physical bank
What are the names of Jill's cats
Reeses and Clarence
Put money and take it out with ease! What account am I?
Checking
Do banks track where you spend?
Banks log where you spend your money this can be helpful when you are trying to budget
it is one of the ways creditors use to see if you will pay them back
Access anywhere any time
Virtual bank / mobile banking app
How old is Jill going to be next month?
23
You may know the 2 above but do you know their cousin - I am a mix between. What account am I?
Money Market
How old do you need to be to open an account?
18 or you can get a student account with a parent or guardian's signature.
What is a credit report?
A credit report card basically: it's the pattern of your payment history from all places you've borrowed money from
Which one usually has higher interest rates?
Online
How tall is Jill?
5'2
of concentrated fun!
Having a savings account is nice but want higher interest and to not touch it consider me! What account am I?
CD Certificate of deposit
What is interest?
Interest is the cash you either pay or make on a loan or savings account. With loans, you get charged interest on top of what you pay back since you're using the lender's money. For savings accounts, you earn interest just for keeping your cash in the bank.
No more than 30% of the line of credit Ex: $300 of credit owe no more than $90
Which kind of bank can you easily deposit cash?
Physical
What is the name of Jill's dog?
Higgins
In this type of account you can actually LOSE money
Investment account
What is a shareholder?
someone or a group that puts money into a company to own a piece of it
What are three major credit reporting agencies?
Equifax, Experian, and TransUnion
Which bank is the easiest to set up an account with?
online if you want to do it yourself but in person is nice because everything is relatively easy to get set up all you have to do is sign some forms.
What is Jill's favorite Pokémon game?
Soul Silver