Day 23 Banks and Investing

Standard 4 LESSON OUTLINE Links to an external site.

Click here for instructions on the "Paperless" version of the course. 

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Day 23

Today we introduce the Fed., Depository Institutions, and the difference between Saving and Investing (risk pyramid).

We don’t spend much time on the Fed. except to explain that money isn’t real and that it’s perceived value of what the money can buy that determines the value of money.

Spend a good portion of the class explaining the difference (Pros/Cons) between Banks, Credit Unions, and Online Accounts. We generally favor Credit Unions and Online Banks over traditional banks. However, banks have their advantages (there are a lot of locations and many are international)

The idea that money has a price (Interest) is introduced. You can earn it or you can pay it. The choice is yours (here we focus on earning it.)

The Managing Your Cash section has ideas on how to Save money (reasonably short-term – extremely safe places to stash your cash.) All of these ideas are on the bottom level of the risk pyramid.

 

  1. 01 Chicken is Chicken Links to an external site. video
  2. 02 Banking Links to an external site.
  3. Depository Institutions
    1. Bank
    2. Credit Union
    3. Online Savings Accounts
    4. FDIC/NCUA
    5. Interest/Interest Rate
    6. Checking/Savings Accounts
    7. Certificate of Deposit (CD)
    8. Money Market Account
    9. Savings Bond
    10. Risk
    11. Investment Pyramid
  4. (Journal Questions 1-3) A-Chicken-is-a-Chicken