2.7.2.G1

© Family Economics & Financial Education – Revised April 2006 – Get Ready to Take Charge of Your Finances – Depository Institution Discovery – Slide 1

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

You will learn about different accounts available at depository institutions

What is a depository institution? Give an example of one.

2.7.2.G1

© Family Economics & Financial Education – Revised April 2006 – Get Ready to Take Charge of Your Finances – Depository Institution Discovery – Slide 2

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

Journal

Match the words with the definitions _____ 1. A business

that offers and sells financial services to people.

_____ 2. The most common type of depository institution.

_____ 3. Money put into an account.

_____ 4. Money taken out of an account.

A. Deposit B. Depository

Institution C. Withdraw D. Commercial Bank

2.7.2.G1

© Family Economics & Financial Education – Revised April 2006 – Get Ready to Take Charge of Your Finances – Depository Institution Discovery – Slide 3

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

You will complete an assessment on Checking accounts

Get a handout from the front of the room. Complete it.

2.7.2.G1

© Family Economics & Financial Education – Revised April 2006 – Get Ready to Take Charge of Your Finances – Depository Institution Discovery – Slide 4

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

You will finish your assessment on Savings tools

_____ 13. Savings Account

_____ _____ 14. Money

Market Deposit Account

_____ _____ 15. Certificate of

Deposit (CD) _____

A. Can withdraw money through an unlimited

number of transactions each month.B. If money is withdrawn early, the

owner must paya penalty fee.C. Money must remain in this tool for

a specificperiod of time.D. Using checks or a debit card are

two ways moneycan be withdrawn.E. The account usually requires more

money than asavings account to open.F. This account pays the least amount

of interest.

2.7.2.G1

© Family Economics & Financial Education – Revised April 2006 – Get Ready to Take Charge of Your Finances – Depository Institution Discovery – Slide 5

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

Journal

What grade do you think you got on your assessment? What could Mrs. Cox have done to make this assignment easier for you to complete?

2.7.2.G1

© Family Economics & Financial Education – Revised April 2006 – Get Ready to Take Charge of Your Finances – Depository Institution Discovery – Slide 6

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

You will review for a quiz on depository institutions tomorrow

1. A checking account is a very common type of account that offers safety and convenience.

2. Most checking accounts do not pay interest.3. Checks and debit cards can be used to

withdraw funds or make purchases from a checking account.

4. An individual can “bounce a check” if he/she has sufficient funds in a checking account.

5. Using a PIN (Personal Identification Number) is optional when using a debit card.

6. Check 21 allows individuals to bounce checks easily.

2.7.2.G1

© Family Economics & Financial Education – Revised April 2006 – Get Ready to Take Charge of Your Finances – Depository Institution Discovery – Slide 7

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

You will finish your assessment on checking accounts

What do you have left to do on your poster? How can you make sure it’s done today?

2.7.2.G1

© Family Economics & Financial Education – Revised April 2006 – Get Ready to Take Charge of Your Finances – Depository Institution Discovery – Slide 8

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

Journal

What is a signature authorization card and why would you need to complete one?

2.7.2.G1

© Family Economics & Financial Education – Revised April 2006 – Get Ready to Take Charge of Your Finances – Depository Institution Discovery – Slide 9

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

You will learn how to write a check

What is a check? How do you write one?

https://www.youtube.com/watch?v=69Zq0giUvIU

2.7.2.G1

© Family Economics & Financial Education – Revised April 2006 – Get Ready to Take Charge of Your Finances – Depository Institution Discovery – Slide 10

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

Checks

1. Southern Middle School for 20 for a pe uniform

2. Walmart for 107.85 for groceries3. 12.24 to Verizon Wireless for a

phone case4. 150.59 to Foot Locker for shoes5. 30.68 to Rainbow for clothes6. 85.23 to Lens Crafters for glasses

2.7.2.G1

© Family Economics & Financial Education – Revised April 2006 – Get Ready to Take Charge of Your Finances – Depository Institution Discovery – Slide 11

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

You will learn about savings tools available at a depository institution

Get a handout from the front of the room and complete it.

2.7.2.G1

© Family Economics & Financial Education – Revised April 2006 – Get Ready to Take Charge of Your Finances – Depository Institution Discovery – Slide 12

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

You will review for a quiz on depository institutions.

Get a handout from the front of the room and complete it.

2.7.2.G1

© Family Economics & Financial Education – Revised April 2006 – Get Ready to Take Charge of Your Finances – Depository Institution Discovery – Slide 13

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

You will take a quiz on depository institutions.

Get a handout from the front of the room and complete it.

2.7.2.G1

© Family Economics & Financial Education – Revised April 2006 – Get Ready to Take Charge of Your Finances – Depository Institution Discovery – Slide 14

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

When you are finished

1. Turn in your test2. Get a yellow book. 3. Read pages 159-1774. Complete “Words you Learned” (1-

9).