Banks have been around a long time. They are a part of our everyday lives. It seems like there’s a bank on every corner, yet we rarely give these important institutions a second thought.
One day, when students have a career and an income, they will need a safe place to deposit their paycheck and save their money. They will have a consumer relationship with a bank. Like any relationship involving their hard-earned money, they should know what they’re getting into!
Unit Theme
Earning an Income
Lesson Topics
- Commercial bank divisions
- Savings
- Checking
- Money market accounts
- Bank fees
- Avoiding bank penalties
- Good banking habits
- (opt.) The virtual currency debate
Lesson Objectives
Lesson objectives aligned to NSFL.
| Objective | NSFL Gr. 8 | NSFL Gr. 12 |
|---|---|---|
| Compare banks: retail, consumer, business, savings and loan | III-1, IV-5 | ++ |
| Compare a checking account, savings account, CD, and money market account | III-2, III-3 | IV-2 |
| Make a plan with at least five strategies to avoid bank fees and penalties | ++ | ++ |
| Tell about two alternatives to traditional banking | ++ | ++ |
| Summarize the benefits and limitations of deposit insurance | III-9 | III-6 |
| (Opt.) Debate the pros and cons of virtual currency | ++ | ++ |
| (Opt.) Use Padlet to collaborate with a team to prepare for the debate on virtual currency | ++ | ++ |
++ Exceeds NFSL
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