Banking Unit

Students will be able to

• Explain what a checking account is used for 
• Understand the variety of ways they can deposit and withdraw funds from their checking account 
• Explain the difference between a checking and savings account
• Understand what the various components of a bank statement mean to interpret where their money goes
• Compare different savings vehicles such as a savings account, CD, and money market account

Students will be able to

• Identify common checking and saving account fees and how to avoid them
• Explain how overdraft protection works and the impact of overdraft fees
• Compare overdraft policies at major US banks

Students will be able to

• Identify various rules of thumb and strategies to save money
• Brainstorm short, medium and long-term savings goals
• Explain what an emergency fund is for and how much to save up

Students will be able to

• List the advantages of online and mobile banking versus traditional banking
• Explain what online bill pay is and how recurring payments work
• Enumerate the benefits of direct deposit for their paychecks
• Explain how to bank safely online
• Explore the pros and cons of a cashless society

Students will be able to: 

• Identify the services that banks offer
• Explain how banks make money
• Describe the differences between online and physical banks

Students will be able to

• Explain what a checking account is used for 
• Understand the variety of ways they can deposit and withdraw funds from their checking account 
• Explain the pros and cons of opening a checking account at a credit union
• Understand the purpose of FDIC insurance 
• Understand what the various components of a bank statement mean to interpret where their money goes

Students will be able to:

• Complete each step to write a check
• Utilize routing and account numbers to issue an e-check
• Endorse and deposit a check
• Understand the process of issuing a stop payment on a check
• Keep a check register and reconcile their accounts

Students will be able to

• Explain the difference between a checking and savings account
• Compare different savings vehicles such as a savings account, CD, and money market account
• Identify important criteria to consider when selecting a savings account

Students will be able to

• Identify common checking and saving account fees and how to avoid them
• Explain how overdraft protection works and the impact of overdraft fees
• Compare overdraft policies at major US banks

Students will be able to

• Explain who is typically unbanked and the reasons that they are unbanked
• Compare payroll and prepaid cards to debit and credit cards
• Detail the consequences of being unbanked
• Explore banking status in regions across the U.S.
  

Students will be able to

• Identify various rules of thumb and strategies to save money
• Brainstorm short, medium and long-term savings goals
• Explain what an emergency fund is for and how much to save up

Students will be able to

• Identify everyday obstacles Americans experience when trying to save money
• Recognize the impact of inflation on savings
• Experience simulated challenges of living paycheck to paycheck

Students will be able to:

• List the pros and cons of digital wallets
• Explain what a P2P payment is
• Set up a P2P account of their choice
• Compare and contrast various peer to peer payment apps

Students will be able to

• List the advantages of online and mobile banking versus traditional banking
• Explain what online bill pay is and how recurring payments work
• Enumerate the benefits of direct deposit for their paychecks
• Explain how to bank safely online
• Explore the pros and cons of a cashless society