In this lesson, students learn that saving is essential to economic well-being, …
In this lesson, students learn that saving is essential to economic well-being, especially in times of extreme economic downturn. They read Saving Strawberry Farm, a story about a Depression-era family attempting to save a neighbor's farm by waging a penny auction. Students hear about the lack of goods and services available and the high rate of joblessness during this terrible time. They simulate a bank run to see how even those with savings were affected. Finally, they learn that savings are safe in banks today.
In this lab, students will continue to practice using terms and vocabulary …
In this lab, students will continue to practice using terms and vocabulary regarding banking. They will build off of the vocabulary learned in the previous lab, such as banks, banking, money saving and transactions.
Refund anticipation checks are often offered by tax preparers as a way …
Refund anticipation checks are often offered by tax preparers as a way to get your tax refund faster than normal—especially if you don’t have a bank account. Also, some check-cashing stores and payday lenders are able to issue refund anticipation loans. This video takes a look at the costs of these options and suggests some cheaper alternatives.
Modern economies rely heavily on financial intermediaries to channel funds between borrowers …
Modern economies rely heavily on financial intermediaries to channel funds between borrowers and lenders. In this issue, the role of traditional banking is outlined and a parallel system—shadow banking—is explored.
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