Checking accounts (stats)

what do checking accounts do?

keep money safe

What does the fdic do?

if you have less than 250,000 in your account, you get all your money back if the bank closes

What are the pro’s to a checking account?

more options to pay (debit card, checks, digital transactions)

easier for others (direct deposit)

usually no transaction limits

easier to manage money

What are the pro’s of a paper trail?

keep track of it and budgeting

What is a credit union?

has a membership and tends to be a much better deal on interest rate

Savings account

Pay interest and has transaction limits

Money markets

Hybrid, high minimum balance, pay interest

Certificates of deposit (CD)

accounts have higher interest rates and money is locked in

Goals need…

budget, specific, attainable, schedule (time)

Scam avoidance

passwords (strong and long), 2 factor authentication, and never open attachments