Banks and Investing
Day 23 Banks and Investing
Today we introduce the Fed., Depository Institutions, and the difference between Saving and Investing (risk pyramid).
We don’t spend much time on the Fed. except to explain that money isn’t real and that it’s perceived value of what the money can buy that determines the value of money.
Spend a good portion of the class explaining the difference (Pros/Cons) between Banks, Credit Unions, and Online Accounts. We generally favor Credit Unions and Online Banks over traditional banks. However, banks have their advantages (there are a lot of locations and many are international)
The idea that money has a price (Interest) is introduced. You can earn it or you can pay it. The choice is yours (here we focus on earning it.)
The Managing Your Cash section has ideas on how to Save money (reasonably short-term – extremely safe places to stash your cash.) All of these ideas are on the bottom level of the risk pyramid.
It’s the 9th of the Month
Teacher: Bank Account = $1,039.64
Auto Technician: Bank Account = $1,233.34
Associate Professor: Bank Account = $1,928.65
Lab Technician: Bank Account = $2,632.20
Computer Programmer: Bank Account = $2,759.35
You want to go to the last concert of your favorite Trapstep artists rave. The tickets cost $80. Do you have enough money in your budget?
01 Chicken is Chicken video
Online Savings Accounts
Certificate of Deposit (CD)
Money Market Account
(Journal Questions 1-) A-Chicken-is-a-Chicken