Unit+2+Banking+Basics

In which we discuss the all-important first step toward channeling your inner Scrooge McDuck: opening a checking and/or savings account! How do you open a bank account? What is each account for? What's the difference between a debit card and a credit card? Find out in this "Money 101" episode! https://youtu.be/n273-rQIK-c?list=PLvdeRYvP0yPWuDfZOPMorvnCB7ez69Y83 =Banking Basics=

Week 1: Banks, Credit Unions
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 * Overview
 * What is a bank and how does it work
 * Banks vs credit unions -- why are they different?
 * Good description of differences on the Motley Fool:
 * Are Credit Unions Foolish?
 * Safety of money in banks -- FDIC -- NCUA
 * Write some checks: @http://banking.about.com/od/checkingaccounts/ig/How-to-Write-a-Check/
 * Discuss debit cards
 * Write some deposit slips:


 * PowerPoint:**

On the papers I handed out, find two banks/credit unions and fill out a comparison of services and fees Ask your parents why they chose to bank at the bank they're currently using? Pros/cons over a couple other options.
 * HOMEWORK:**

Week 2: FIRST Citizens Bank field trip
Comparing rates and what the different fees and rates mean

Field trip: First Citizen's Bank Nina Jarrad Financial Services Representative First Citizens Bank 1825 Kildaire Farm Rd Cary, NC

For this week, I'd really like to compare interest rates and account information across different banks. We started but didn't get very far last week... so, if you have these numbers from last week, you're in luck -- all you need to do is click on the link below and add your information to the spreadsheet. If you haven't, please find two banks/credit unions to compare across -- or find 2 accounts at the same financial institution (I did an example with FIRST Citizens Bank).
 * HOMEWORK**

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Week 3: Balancing Checkbooks
Focus was on balancing a check book -- why it's worth writing things down on a register, how it differs from the balance that shows in the bank, and then how to look at a bank statement and correspond it to what happened in the register.

Why you should balance your checkbook: @http://financialplan.about.com/cs/personalfinance/a/CheckbookBalanc.htm
 * Here's a great handout about checking accounts and balancing accounts (the page we used in class to balance the register/statement is from this handout) It's from Practical Money Skills Canada: @http://practicalmoneyskills.ca/foreducators/lessonplans/
 * [[file:banking services lesson.pdf]]
 * The PowerPoint presentation used in class that walked through all the different transactions made
 * [[file:Balancing a check book presentation.pdf]]
 * And the Excel file that had the register in it, the daily balance, and the statement (one on each tab)
 * [[file:Register.xlsx]]

Another unit on balancing a checkbook:
 * Bank Reconciliation: What Do You Mean I’m Overdrawn? There Are Still Checks in My Checkbook!
 * @http://www.cscpa.org/Content/23947.aspx