Money Management

Banks/ Credit Unions

100

This Financial Organization can charge more fees and charges. 

Banks 

200

This Financial Organization Has fewer locations and ATM's.

Credit Union

300

This Financial Organization offer better interest rates for saving and loans 

Credit unions 

400

This Financial Organization have better online banking and are open to the public and have more locations 

Banks  

500

This Financial Organization may require members to meet certain rules and regulations and Online access is less user friendly. 

Credit unions 

Money Accounts Part 1

100

This account is good for everyday spending

Checking account

200

This account allows you to earn a little interest over time. 

Savings Account 

300

This account helps you pay for things and keep money safe and secure.

Checking account

400

This account lets you borrow money to pay back later

Credit account

500

From this account you can use a debit card to take money out of ATM.

Checkings Account

Money Accounts Part 2

100

This account is associated with your debit card and it is similar to writing a check for each transaction

Checking account

 

200

This account allows you to save money for later 

Savings account

300

 For This account it is better to pay it on time so you dont owe more money.

Credit account

400

This account is great for safe keeping for things want to buy in the future. 

Savings account

500

For this account you must return the money you borrow plus interest

Credit accounts

Debit Card Basics

100

State the difference between a credit card and a debit card

Debit card - paid instantly 

Credit card - pay later, receive item immediately

200

What does PIN stand for? 

Personal Identification Number

This is a safety and protection feature 

300

What should you consider when selecting a debit card?

Look for banks/credit unions with branches near you. 

understand fees that may be charged for using an ATM, consider transfer fees when moving funds from savings to checking accounts.

select a debit card that will enable you to easily manage your purchases and pay your bills.

400

List some protective features offered by debit card companies

PIN 

over draft protection

fraud claims

500

List examples of things to be mindful of when using a debit card. 

Keep track of your bank account balance 

know what Bills need to be paid in the near future

If you overdraw your account, you will be charged with an overdraft fee.

Credit Loans 2

100

This Loan helps you buy some wheels to drive

Car Loan

200

This loan helps you pay for school 

Student Loan

School Loan

300

This Loan can be used for many things that you need anytime.

Personal Loan

400

This Loan must be paid back over years typically 15-30 years

Home/Mortgage Loan

500

For this Loan If it is not paid on time or if payment is past due the bank has a right to collect this from you. 

Car Loan