A Bit of Housekeeping…A Bit of Housekeeping…• Have some coffee!

• Don’t forget the questionnaire (and past classes) at ss.grbc.net

• Paying off your credit card balance

• Your credit report & credit score

• Balancing a checkbook?

• Any questions?

Where can I put my money?Where can I put my money?Savings (Banks / Credit Unions)Savings (Banks / Credit Unions)Savings (Banks / Credit Unions)Savings (Banks / Credit Unions)

• Checking Accounts

• Savings Accounts

• Money Market Accounts

• Certificates of Deposit (CDs)

• Checking Accounts

• Savings Accounts

• Money Market Accounts

• Certificates of Deposit (CDs)

InvestingInvestingInvestingInvesting

• Bonds

• Stocks

• Mutual Funds

• Bonds

• Stocks

• Mutual Funds

Advantage: Money is completely safeDisadvantage: Low interest rates

Advantage: Higher rates of returnDisadvantage: Money is at greater risk

MediumLowHighCDs

HighMediumMediumMoney Market

LowHighLowSavings

LowVery HighVery LowChecking

RequiredMinimum

Flexibility(Liquidity)

InterestRate

Where can I put my money?Where can I put my money?

$51.505.15%($250)

$50.00*5.00%($1,000)

$45.504.50%($10,000)

CD (5yrs)

$50.005.00%($250)

$43.504.35%($250)

$42.504.25%($10,000)

CD (3yrs)

$45.004.50%($250)

$43.004.30%($250)

$30.003.00%($50)

CD (1yr)

$40.804.08%($250)

$18.001.80%($1,000)

$11.701.17%($10,000)

Money Market

$17.501.75%$7.000.70%($5)$1.500.15%

($300)Savings

$7.500.75%$2.500.25%$00%Checking

$1,000 earns:

Interest

rate:

$1,000 earns:

Interest

rate:

$1,000 earns:

Interest

rate:

$47.504.75%

$45.004.50%

$43.004.30%

$17.501.75%

$7.000.70%

$1.500.15%

Interest rate: $1,000 earns:

Online-only banks? Your money is safe, if the online bank is FDIC insured.

Many online banks have no minimums, no fees, no service charges, no hidden costs.

Sure!

$1,000

$2,000

$3,000

$4,000

$5,000

$6,000

$7,000

$8,000

$9,000

$10,000

After 45 years, $1,000 grows to…

WachoviaSavings

WachoviaMoney Market

TruliantMoney Market

SECUMoney Market

Emigrant DirectSavings

$1,070 $1,796 $3,245 $6,943 $9,180

$10,000

$20,000

$30,000

$40,000

$50,000

$60,000

$70,000

$80,000

After 45 years, $1,000 grows to…

WachoviaSavings

WachoviaMoneyMarket

TruliantMoneyMarket

SECUMoneyMarket

EmigrantDirect

Savings

IndexMutualFund

$1,070 $1,796 $3,245 $6,943 $9,180 $72,890