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PRESENTATION OUTLINE

MANAGING PERSONAL FINANCES

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FINANCIAL SERVICES

7 TYPES OF SERVICES AVAILABLE
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SAVINGS ACCOUNTS

THIS TYPE OF ACCOUNT PAYS YOU INTEREST ON YOUR MONEY
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CHECKING ACCOUNTS

CAN USE CHECKS OR DEBIT CARDS TO PAY BILLS

DEBIT CARDS

LIKE A CREDIT CARD BUT MONEY COMES DIRECTLY OUT OF YOUR ACCOUNT

ELECTRONIC BANKING

GIVES YOU THE ABILITY TO BANK FROM YOUR PHONE OR COMPUTER
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AUTOMATED TELLER MACHINES (ATMs)

OFFERS FLEXIBILITY OF BANKING AT ANY TIME
Photo by Tax Credits

LOANS

ABILITY TO BORROW MONEY FROM A FINANCIAL INSTITUTION

OTHER FINANCIAL SERVICES

FINANCIAL COUNSELING, DRIVE-UP WINDOWS, ESTATE MANAGEMENT, ETC.
Photo by Lawrence OP

3 TYPES OF INSTITUTIONS
1. COMMERCIAL BANKS - OFFER A VARIETY OF SERVICES AND RUN FOR A PROFIT
2. SAVINGS AND LOAN ASSOCIATIONS - MOSTLY DO SAVINGS ACCOUNTS AND LOANS
3. CREDIT UNIONS - NONPROFIT INSTITUTION OWNED & OPERATED BY MEMBERS

Photo by xhowardlee

USING A CHECKING ACCOUNT

THIS IS A CONVENIENT WAY TO PAY BILLS AND PURCHASE ITEMS

WHEN OPENING A CHECKING ACCOUNT YOU WILL BE SIGNING A SIGNATURE CARD AND MAKING A DEPOSIT

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WRITING A CHECK

MAKE SURE YOU KEEP TRACK IN YOUR CHECK REGISTER OF ALL YOUR TRANSACTIONS
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ENDORSING A CHECK

THIS IS WHEN YOU SIGN THE BACK OF THE CHECK 
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BALANCING YOUR CHECKBOOK
YOU NEED TO RECONCILE YOUR BANK STATEMENT WITH YOUR CHECK REGISTER TO MAKE SURE THE AMOUNTS ARE THE SAME AND THAT YOU BALANCE

Photo by Lucas Hayas

OVERDRAFTS

THIS OCCURS WHEN YOU SPEND MORE THAT YOU HAVE MONEY IN THE BANK TO COVER IT
Photo by 401(K) 2013

SAVING FOR THE FUTURE

PUTTING MONEY IN SAVINGS IS A WISE DECISION

WHY SAVE?
1. IT WILL BE AVAILABLE FOR FUTURE NEEDS
2. SAVINGS CAN BE A DIRECT PATH TO SOME LONG TERM GOALS
3. IT CAN BE CONSIDERED AN EMERGENCY FUND
4. IT CAN GIVE YOU A RETIREMENT CUSHION

5 FACTORS IN DECIDING HOW TO SAVE
1. SAFETY - SHOULD BE PROTECTED FROM LOSS (FIRE, THEFT, LOST)
2. RATE OF RETURN - INVESTIGATE THE INSTITUTION THAT GIVE YOU THE MOST BACK FOR THE USE OF YOUR MONEY

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3. LIQUIDITY - HOW QUICKLY YOU CAN GET CASH IS IMPORTANT FOR EMERGENCIES
4. PURCHASING POWER - IT SHOULD BE PROTECTED AGAINST INFLATION (STOCKS, BONDS, REAL ESTATE)
5. CONVENIENCE - NEEDS TO BE NEAR YOUR HOME OR BUSINESS

Photo by MarkMoz12

WAYS TO SAVE

CHECK DIFFERENT SAVINGS ACCOUNTS AT YOUR BANK

INVESTING

USUALLY THEY ARE TALKING ABOUT SECURITIES OR PART OWNERSHIP OF A COMPANY
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STOCKS

THIS CERTIFICATE REPRESENTS A SMALL PART OF OWNERSHIP IN A COMPANY

BONDS

THESE ARE CERTIFICATES THAT A COMPANY SAYS THEY WILL REPAY A DEBT ON A GIVEN DATE
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MUTUAL FUNDS

THIS IS MANY INVESTORS INVESTING IN MANY INVESTMENTS
Photo by Ken Lund

401(k) RETIREMENT PLANS

OFFERED BY SOME EMPLOYERS AS A WAY TO HELP EMPLOYEES BUILD RETIREMENT
Photo by Tax Credits

INDIVIDUAL RETIREMENT ACCOUNTS (IRA)

THIS ACCOUNT COMPOUNDS INTEREST OF YOUR MONEY OVER TIME
Photo by paukrus

PLANNING AN ESTATE

THIS IS WHAT YOU LEAVE BEHIND WHEN YOU DIE

WILL

THIS IS A DOCUMENT THAT TELLS HOW YOU WANT YOUR ESTATE DISTRIBUTED
Photo by Ken_Mayer

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