Saving and Investing
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Saving and Investing Vault Lesson 6
description
Saving and Investing. Vault Lesson 6. Savings. Savings Money set aside for short- or long-term goals When you save money you are putting money aside to reach your goals prepared in case of an emergency. Savings Account. Savings Account - PowerPoint PPT Presentation
Transcript of Saving and Investing
Saving and InvestingVault Lesson 6
SavingsSavings–Money set aside for short- or long-term
goals
When you save money you are • putting money aside to reach your goals• prepared in case of an emergency
Savings AccountSavings Account–An account that gains interest and allows
withdrawals
• When selecting a savings account look for one with a high interest rate.
Savings Account Advantages• Savings accounts might earn interest on your
savings.• You can take money out of savings anytime
you want.
Certificate of DepositCertificate of Deposit–A savings certificate that gains interest and
has a set time before you can withdrawal your money
Savings Accountvs.
Certificate of DepositSavings Account– gains interest and you can withdrawal your
money anytime you wantCertificate of Deposit– gains interest but you must leave your
money in for a set time before you can withdrawal it
InterestInterest–Amount of money the borrower pays for
the use of a lender’s money
BudgetBudget–A spending and savings plan
Advantages of having a budget• Having a budget is the best way to make the
most out of your money• Creating a budget helps you manage your
money
Advantages of Having a Budget• Having a budget is the best way to make the
most out of your money• Creating a budget helps you manage your
money• Budgets can be used to help you achieve
BOTH long-term and short-term goals.
ExpenseExpense– The cost of goods and services
Ways Kids Can Cut Expenses• Watching movies at home rather than going to
the movie theatre• Hanging out with friends rather than going
shopping• Eating at home rather than going to a
restaurant
InvestingInvesting–When you purchase a security like a stock or
bond in the hopes that over time it will make money
Other Ways to Invest Money
Mutual Fund–A way to invest your money in a few
investment types at onceStocks–An investment in a company that can build
your wealth
http://vault.everfi.net
• Use the link above to go to the Vault web site.• Log in• Complete Lesson 6: Saving and Investing
• You might want to review this PowerPoint before you take the 10 question post assessment for this lesson.
