Topic 5: Topic 5: Tracking Your MoneyTracking Your Money

Wealth ManagementWealth Management

Mrs. TobeMrs. Tobe

Topic 5.01:Topic 5.01:Where can you put your moneyWhere can you put your money

Identify types of financial-service Identify types of financial-service providersproviders Commercial banksCommercial banks Savings and loansSavings and loans Credit unionsCredit unions Brokerage firmsBrokerage firms Insurance companiesInsurance companies Accounting firmsAccounting firms

Describe banking servicesDescribe banking services Checking accounts Savings accounts Interest on checking deposits Automatic deposit and payment Credit cards Check cards or Debit cards ATMs Online banking Storage of valuables (safe deposit boxes) Money transfers Overdraft protection Traveler's checks

Topic 5.01:Topic 5.01:Where can you put your Where can you put your moneymoney

Investment servicesInvestment services AdviceAdvice: factors involving not only investments, but : factors involving not only investments, but

also taxes, insurance needs, liquidity needs, and also taxes, insurance needs, liquidity needs, and other special needs or constraints must be other special needs or constraints must be addressed. addressed.

Portfolio managementPortfolio management: investor portfolios are built : investor portfolios are built in a hodge-podge manner over time. in a hodge-podge manner over time.

AdministrationAdministration: any registered broker/dealer has : any registered broker/dealer has access to many equity, fixed-income and access to many equity, fixed-income and commodities markets through which they can buy commodities markets through which they can buy and selland sell

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Explain services offered by insurance companies.Explain services offered by insurance companies. RetirementRetirement: : It's never too soon – or too late – to It's never too soon – or too late – to

start thinking about and planning for your retirement. start thinking about and planning for your retirement. Social Security, 401k Plans, Annuities, Estate Social Security, 401k Plans, Annuities, Estate PlanningPlanning

Health: Health: You make important health decisions every You make important health decisions every day, whether it’s choosing to donate blood, choosing day, whether it’s choosing to donate blood, choosing nursing care for a loved one, or simply choosing to nursing care for a loved one, or simply choosing to exercise. exercise.

Insurance: Insurance: Do you know what it takes to protect Do you know what it takes to protect you, your family, car and home? Unsure about what you, your family, car and home? Unsure about what type of life insurance to buy, or how much disability type of life insurance to buy, or how much disability income insurance you need?income insurance you need?

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Finances: Finances: Most people have financial matters they Most people have financial matters they must attend to, and for many, finances are a source must attend to, and for many, finances are a source of stress and worry. Learn the basics of creating a of stress and worry. Learn the basics of creating a budget, saving and investing, financial planning and budget, saving and investing, financial planning and more.more.

Life Transitions: Life Transitions: From beginning your career, to From beginning your career, to welcoming a child, to coping with loss…there are welcoming a child, to coping with loss…there are many transitions that you may encounter in your life. many transitions that you may encounter in your life.

Safety & Security: Safety & Security: Whether home or abroad, Whether home or abroad, indoors or out, knowing how to protect your family indoors or out, knowing how to protect your family and possessions is important. Tips on travel safety, and possessions is important. Tips on travel safety, fire and disaster preparation and protecting against fire and disaster preparation and protecting against identity theft.identity theft.

Topic 5.01:Topic 5.01:Where can you put your Where can you put your moneymoney

Discuss online services provided by financial Discuss online services provided by financial institutions. institutions. Automatic Deposit.Automatic Deposit. You can have your paycheck You can have your paycheck

automatically deposited into your account. Ask your employer automatically deposited into your account. Ask your employer if this service is available where you work. It's a good idea, if this service is available where you work. It's a good idea, because you won't have to wait in line at the bank every time because you won't have to wait in line at the bank every time you get paid. you get paid.

Automatic Bill Pay.Automatic Bill Pay. You can have your bank make You can have your bank make automatic contributions to certain bills if you wish. Also, your automatic contributions to certain bills if you wish. Also, your bill collectors likely offer the service. Many prefer this method bill collectors likely offer the service. Many prefer this method and will sometimes offer a cost break if you choose to use it. and will sometimes offer a cost break if you choose to use it. This can be a great convenience, but be careful. If your cash This can be a great convenience, but be careful. If your cash flow is sporadic, an automatic payment could kick in when you flow is sporadic, an automatic payment could kick in when you don't have enough funds, causing you to be penalized. don't have enough funds, causing you to be penalized.

Topic 5.01:Topic 5.01:Where can you put your Where can you put your moneymoney

Automatic TransferAutomatic Transfer.. If you're trying to maintain a savings If you're trying to maintain a savings regimen, consider having a certain amount of your paycheck regimen, consider having a certain amount of your paycheck or checking account balance transferred into savings or an or checking account balance transferred into savings or an investment fund. It's easy to set up either online or at your investment fund. It's easy to set up either online or at your local branch. local branch.

Automate Your Records.Automate Your Records. Many online banking services Many online banking services are compatible with financial management software. You can are compatible with financial management software. You can have your account records imported regularly, and make have your account records imported regularly, and make balancing your checkbook quick and easy. balancing your checkbook quick and easy.

Bank From Anywhere.Bank From Anywhere. With online banking, you can pay With online banking, you can pay your bills and manage your accounts while at home in your your bills and manage your accounts while at home in your pajamas. Or you can do it from anywhere in the world. pajamas. Or you can do it from anywhere in the world. Wherever you have an Internet connection, you have the Wherever you have an Internet connection, you have the ability to work with your money. ability to work with your money.

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