PPT-Money, Banking, Saving and Investing

Money  http wwweconedlinkorginteractivesindexphpiid189amptypeeducator the Fed  httpwwwstlouisfedorgeducationresourcesinplainenglishvideo What Makes Money Important. Consumer Ed. Unit 8-Chapter 9. Investing. Saving in a way that earns income . Risk –what you are willing to gamble on. vs.. Return-what you will get back on your money that you invested. Reasons to Invest. 1. Compare . consumer choices for saving and investing. . 2. . Explain . the relationship . be tween . saving and investing. . 3. . Examine . reasons for saving and . investing. , e.g., time value of money. . Swarn Chatterjee. Department of Financial Planning, Housing, & Consumer Economics. University of Georgia. Topics for today’s discussion. Financial Capability. Behavioral Economics: The role of psychology in financial decision making. Taking care of your future wealth. What is the difference between saving and investing?. Portion of current income not spent on consumption. Saving. Purchase of assets with the goal. . of increasing future income. 1791: The First Bank of the US was established to hold the government’s $$, help the government to tax, regulate commerce, and issue a single currency. 1861: The Second Bank of the US was established to restore stability and order to the monetary system.. The Road to Financial Independence. Personal Finance . Essentials:. 8 Financial Priorities. Discussion Topics. 1. Perspectives: Spiritual matters. 2. Investing Basics: Before you start. 3. Investment Vehicles: The shopping carts. Most people save and invest to meet a goal…. Buying a car. Continuing their education. Starting a family. First home. Build up a “rainy day” fund. Provide funds for a “comfortable” retirement. Section 1-Reasons for Saving and Investing. Savings. Money set aside for the future (also known as deferred spending). Emphasis on “safety of principal”—protecting the balance in your account. Types of savings—safe, because these are FDIC Insured. How . to live within one’s income . Income is received from work and is . limited . Budget is a tool to plan the spending and saving of . income. Reasons and benefits of saving . Uses and costs of credit . 2 | A ROADMAP TO YOUR JOURNEY TO FINANCIAL SECURITY | 3 Don’t Wait to Get Started YOU CAN DO IT! IT’S EASIER THAN YOU THINK. No one is born knowing how to save or to invest. Every suc - Chapter 10. Section 1. Money. is . anything that serves as a medium of exchange, a unit of account . and . a store of value. What is Money?. 1) . Medium . of exchange. - anything that is used to determine value during the exchange of goods and . Some define money as anything acceptable I payment of goods and services or in settlement of debt. . Some say money is anything that performs the function of medium of exchange, measure of value and store of value .. PLANNING FOR THE FUTURE. WHY DO I NEED INSURANCE OR A RETIREMENT ACCOUNT WHEN I’M YOUNG AND . HEALTHY?. BLOCKING . THE COST OF RISK. Health. Auto. Life. Disability. Long-term care. Property. MINDSET FOR STARTING YOUNG. Dive into the world of money and banking with this comprehensive guide. Learn about fundamental concepts, common questions, and how money shapes the economy.