Checking Savings & Investment Accounts
Checking Saving s & Investment Accounts
Dec 30, 2015
Checking Saving s & Investment Accounts. C1. The Center of all Financial Decisions Check in wherever you are. C2. Good Record Keeping Good record keeping starts with accurate checks and balances Balance your checkbook! When possible, review your accounts daily. C3. C4. - PowerPoint PPT Presentation
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Checking
Savings&
Investment
Accounts
C1
C2
The Center of all Financial Decisions
Check in wherever you are
C3
Good Record Keeping
Good record keeping starts with accurate checks and balances
Balance your checkbook!
When possible, review your accounts daily
C4
C5
The Online Statement
Balance the online statement against the check register
D1
D2
Strategies for Saving Why save
In case of an emergency To take advantage of opportunities To reach financial goals
Pay yourself first Save to reach goals From each paycheck: save first, spend second Deposit change and “found” money monthly = bonus savings
B1
Investment
AccountsMoney for the future!
B2
Things To Consider For Investment Accounts
Time – short-term or long-term
Vacation, College Education, New Car
Income – how much money do you have to save
Income, Debts, Taxes, Emergencies
InvestmentAccounts
B3
Types of Investments
Stocks – easy to access with higher risk of loss (no set time)
CDs – hard to access with low risk of loss (set time for withdrawal)
Bonds – hard to access with low risk of loss (set time for withdrawal)
InvestmentAccounts
InvestmentAccounts
StocksStocks – Share of ownership in an organization
Why Stocks?
Dividend Payments – share of the organization’s profit
Capital Gains – selling the stock at a higher price than the purchase price
Risk – no guarantee of profit
B4
CDs
CD – Certificate of Deposit
Commit funds for a certain length of time
Low risk – the money will be withdrawn with a set amount of interest
Problems:
Inflation – the general rise in prices (the money may not be enough when the time is up
Access – money can’t be withdrawn early without a fee
InvestmentAccounts
B5
Bonds
Bonds – Accounts backed by the US Government
Commit funds for a certain length of time
Low risk – the government backs the funds
Problems:
Inflation – the general rise in prices (the money may not be enough when the time is up)
Access – money can’t be withdrawn early
InvestmentAccounts
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