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Saving and Investing

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Lesson 6 emphasizes the importance of savings for achieving both short-term and long-term goals. It explains savings accounts, which earn interest and allow for withdrawals, and highlights the advantages of budgeting for effective money management. Additionally, it covers Certificates of Deposit (CDs) and various investment options, including mutual funds and stocks. Understanding these financial tools can help you prepare for emergencies and build wealth over time. Visit the Vault website to review Lesson 6 and complete the post-assessment.

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Saving and Investing

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  1. Saving and Investing Vault Lesson 6

  2. Savings Savings • Money set aside for short- or long-term goals When you save money you are • putting money aside to reach your goals • prepared in case of an emergency

  3. Savings Account Savings Account • An account that gains interest and allows withdrawals • When selecting a savings account look for one with a high interest rate.

  4. Savings Account Advantages • Savings accounts might earn interest on your savings. • You can take money out of savings anytime you want.

  5. Certificate of Deposit Certificate of Deposit • A savings certificate that gains interest and has a set time before you can withdrawal your money

  6. Savings Accountvs. Certificate of Deposit Savings Account • gains interest and you can withdrawal your money anytime you want Certificate of Deposit • gains interest but you must leave your money in for a set time before you can withdrawal it

  7. Interest Interest • Amount of money the borrower pays for the use of a lender’s money

  8. Budget Budget • A spending and savings plan Advantages of having a budget • Having a budget is the best way to make the most out of your money • Creating a budget helps you manage your money

  9. Advantages of Having a Budget • Having a budget is the best way to make the most out of your money • Creating a budget helps you manage your money • Budgets can be used to help you achieve BOTH long-term and short-term goals.

  10. Expense Expense • The cost of goods and services

  11. Ways Kids Can Cut Expenses • Watching movies at home rather than going to the movie theatre • Hanging out with friends rather than going shopping • Eating at home rather than going to a restaurant

  12. Investing Investing • When you purchase a security like a stock or bond in the hopes that over time it will make money

  13. Other Ways to Invest Money Mutual Fund • A way to invest your money in a few investment types at once Stocks • An investment in a company that can build your wealth

  14. http://vault.everfi.net • Use the link above to go to the Vault web site. • Log in • Complete Lesson 6: Saving and Investing • You might want to review this PowerPoint before you take the 10 question post assessment for this lesson.

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