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5.4 Lesson Plan
DISCUSSION:
Discuss these questions with your classmates or with a partner.
1. If you already have a savings account, why did you choose your specific bank?
2. If you don’t have a savings account, what factors do you think are most important in making a good decision?
1 5 min
In this activity, students will be able to:
Discuss the ways in which people choose their savings account
VIDEO:
What’s the Difference Between Checking and Savings?
You may be tempted to think you’re all set once you have a checking account, but it’s important to have a savings account, too. Watch this video and then write at least three ways savings accounts differ from checking accounts.
2 5 min
In this activity, students will be able to:
Understand the differences between a checking & a savings account
ACTIVITY:
Compare Different Types of Savings Accounts
Follow the directions on the worksheet to complete this activity.
3 45 min
In this activity, students will be able to:
Understand the differences between a checking & a savings account
ACTIVITY:
Compare Different Types of Savings Accounts
Follow the directions on the worksheet to complete this activity.
4 45 min
In this activity, students will be able to:
Understand the differences between a checking & a savings account
VIDEO:
Ally Bank Commercial - Would You Like a Pony?
Watch this commercial for an online bank, then answer the following question.
What does this commercial imply about the financial advice you can expect when you seek to open an account?
5 5 min
In this activity, students will be able to:
Identify important criteria to consider when selecting a savings account
ARTICLE:
Tips on Opening a Savings Account
Read this brief article about selecting a savings account, and then answer the questions.
What account features do they recommend inquiring about?
What account fees should you avoid with savings accounts?
One could argue that selecting an account with minimal fees is more important than selecting a savings account based on interest rates right now. Why might this be true?
6 5 min
In this activity, students will be able to:
Understand different features of savings accounts
ARTICLE:
What Do You Need to Open a Bank Account?
Read the sections of this article titled “Opening and funding the account” and “Providing the right information.”
Create a list of what you would need to open the account you chose in the previous activity.
How would you fund your first deposit?
6 5 min
In this activity, students will be able to:
Understand the important documents you need to open a savings account
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