Evaluation should include
- assessing personal banking needs
- identifying the products and services offered (e.g., saving, borrowing)
- comparing financial institutions in terms of personal banking needs, including
- procedures for opening and managing the account
- interest rates
- fees, requirements, and account restrictions (e.g., minimum balance requirements; limits to the number of withdrawals per month)
- record keeping considerations
- customer relations and cybersecurity practices and policies
- describing the borrowing process (e.g., types of loans, interest rates, credit score considerations)
- evaluating credit cards and describing the benefits and disadvantages of credit and credit card debt.
Process/Skill Questions:
Thinking
- Why is saving important?
- How does one avoid debt?
Communication
- What are some best practices related to banking security online?
Leadership
- Why is an analysis of wants and needs important to evaluating spending plans?
Management
- Why is it important to check online banking balances often?
Teacher Resources: