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Financial Decisions Hub: Manage Checking, Savings & Investments Efficiently

Learn to balance accounts, save effectively, and invest wisely. Understand different investment types like stocks, CDs, and bonds. Secure your financial future with smart strategies and informed decisions.

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Financial Decisions Hub: Manage Checking, Savings & Investments Efficiently

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  1. Checking Savings & Investment Accounts

  2. C1

  3. The Center of all Financial Decisions • Check in wherever you are C2

  4. Good Record Keeping • Good record keeping starts with accurate checks and balances • Balance your checkbook! • When possible, review your accounts daily C3

  5. C4

  6. The Online Statement • Balance the online statement against the check register C5

  7. D1

  8. 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 D2

  9. Investment Accounts Money for the future! B1

  10. Investment Accounts • 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 B2

  11. Investment Accounts • 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) B3

  12. Investment Accounts • Stocks • Stocks – 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

  13. Investment Accounts • CDs • CD – Certificate of Deposit • Commit funds for a certain length of time • Low risk – the money will be withdrawn with a set amount of interest • Problems: • Inflation – the general rise in prices (the money may not be enough when the time is up • Access – money can’t be withdrawn early without a fee B4

  14. Investment Accounts • 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 B5

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