Resources aligned with the “Spending and Saving” standard from the National Standards in K-12 Personal Finance Education.
Overall Competency: Apply strategies to monitor income and expenses, plan for spending and save for future goals.
In the past, we have talked about banks and credit unions. But they sound very similar. Can you please help me understand them better? Both banks and credit unions are financial institutions that help people with their basic financial needs – they accept deposits, provide loans, offer checking and savings accounts, credit cards, etc. So …
I’ve heard in some bank commercials that the account is FDIC insured. What does it mean? FDIC stands for Federal Deposit Insurance Corporation. It is a federal agency that insures deposits in participating US banks, which protects the depositors if the bank goes bankrupt. It was formed as a result of the great depression, …
What is Direct Deposit? How is it different from a regular deposit or a check? Direct deposit is the deposit of money, directly from the bank account of the payer into the bank account of the recipient. It is done electronically, instead of through a physical check. Some instances where direct deposit is commonly …
What Is an Overdraft? An overdraft occurs when you try to withdraw more money than what you have in your account, making your account balance negative. What happens in this case? Am I allowed to withdraw the money? Normally, the bank or credit union would refuse the withdrawal or return the check because of …
What is a credit union? A credit union is a financial institution that is owned and operated by its members. It accepts deposits from its members and provides them loans as well as other financial services like checking and savings accounts, credit cards, etc. How do I become a member of a credit union? …
Introduction to Money for Kids and Teens This video explains the concept of money in a simple, concise way for kids and beginners. It could be used by kids & teens to learn about money, or used as a money & personal finance resource by parents and teachers as part of a Financial Literacy course …
Introduction to Interest Rate for Kids and Teens This video explains the concept of interest in a simple, concise way for kids and beginners. It could be used by kids & teens to learn about rate of interest, or used as a money & personal finance resource by parents and teachers as part of a …
Introduction to Net Worth for Kids and Teens This video explains the concept of net worth in a simple, concise way for kids and beginners. It could be used by kids & teens to learn about net worth calculation, or used as a money & personal finance resource by parents and teachers as part of …
Introduction to Finance for Kids and Teens This video explains the concept of finance in a simple, concise way for kids and beginners. It could be used by kids & teens to learn about the world of personal finance, or used as a money & personal finance resource by parents and teachers as part of …