That’s Life! A Penny Saved is a Penny Earned Fill-in the following

That’s Life!

A Penny Saved is a Penny Earned

Fill-in the following chart regarding different types of savings options and use it complete the assignments listed below.

Description

Advantages

Disadvantages

Savings Account

Certificate of Deposit

Money Market Account

Traditional IRA

Roth IRA

401(k)/403(b)

Prepare a visual aid (i.e. Powerpoint, Inforgraphic, etc.) that displays information from three different banks or credit unions comparing services offered and fees charged for those services. Then, rate the financial institutions based on the data you have collected. This following information must be included in your final product and you must upload this assignment to Schoology.

Name of financial institution

One checking account product from that institution

Include minimum balance required, fees charged and interest earned.

One savings product from that institution

Include minimum balance required, fees charged and interest earned.

Rating of each institution (scale of 1-3, with 1 being the best) and why

Finally, prepare a savings plan for yourself in real life. You need to include how you save in the present, how you plan to save in 5 years and how you hope to save in 10 years. This should include such details as short and long-term savings as well as how you will address retirement, emergencies and school. This will be handed in as a hard copy.