Writing a check
Company NameAddressCity, Sate Zip March 28, 2012
250.00Lincoln Electric Company
Two Hundred and fifty and 00/100 --------------------
March Electric Bill Jennifer Satorie
ATM Card
(Automated Teller Machine)
• Is a card that is linked to your bank account.
– Get cash fast
– PIN (Personal Identification Number)
Debit Card
• Used like a credit card
• Money comes out of your bank account automatically.
• Like a check with out the paper
• Money has to be there.
What are some options…
• Minimum balances
• Annual/ Monthly Fees
• Overdraft protection
• Insufficient funds fees
• ATM Fees
Savings Account• Money set aside for short term goals
• Can still get cash out when you need
• Usually gains interest
• Very safe • (FDIC – Federal Deposit Insurance Corporation)
Investing…
• Long term goals
• Money into longer term account
• Usually higher interest rate
• Usually fee to get money out early
Types of Investments
• Stocks– Own a part of a company– Can generate high returns (Buy low – Sell high)
• Bonds (US Govt, Corporate)– You are loaning the money to the government– Longer period of time (2-30 years)
• CD’s (Banks version of a Bond)– Certificates of Deposit – Loan money to the bank