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How to manage your cash.
What can affect your long term fincancial goals?
buying a car, starting a bussines, or paying for college.
If money is put in a financial institution for over 1 month or a year is called…
a time deposit.
Provide 2 examples of a time deposit fund.
Certificate deposits, and savings account.
What is the most commonly used payment service?
checking account
Money you place in a checking account is called…
demand deposit
why is it called a demand deposit?
becasue you can withdrawl from it at any time or on demand.
What can you do if you need to borrow money?
using a credit card, taking out a personal cash loan,
If you need to borrow it for longer you should
apply for a mortgage loan or auto loan.
What are the pros of direct deposit?
saves time, effort, safer way to transfer funds.
What is a ATM?
Automated teller machines
Where are ATMs located?
banks shopping malls grocery stores sports arenas.
What is a debit card?
a cash card that allows you to withdraw money or pay for purchases directly from your checking or savings acccount.
What is a PIN?
personal identification number
What should you NOT use your PIN for?
online transactions businesses or anybody.
What shoud i do if my debit card is stolen?
notify your bank immediately.
What are the other 2 methods of payment?
credit card and checks
When evaluating the choices you should..?
re - evaluate your choices occacionally, you are able to find a institution that offers more services.
A commercial bank is…
a for profit-orginzation that has full range services.
What service does a commercial bank offer?
checking savings and lending.
What is a S&L?
savings and loan association
What services does a S&L offer?
specializes in savings and mortgage loans but now offers similar to commercial banks.
What is a mutual savings bank?
owned by depositers specialzes in savings account
What is a credit union?
a more non- profit financial institution
Who ownes the credit union?
owned by the members.
What services does a credit union offer?
checking, accounts, loans, credit cards, ATMs, self deposit boxes, and investment services.
What does a Life Insurance Company offer?
financial security for dependants
What features does a life insurance have?
savings and investment
What is a Pawnshop?
for moderate low - income families. used for obtaining cash.
are there cons of using pawnshops?
they charge higher fees.
Certificate of Deposit is…
a saving alternitive to earn a specific rate of return.
Note 
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