Evaluation should include
- types of financial institutions and the services offered by each
- factors to consider when choosing and using checking and debit accounts
- advantages and disadvantages of different types of savings accounts
- factors to consider before making investments
- types of credit and factors to consider before applying for credit
- importance of banking services (e.g., cash management).
Process/Skill Questions:
Thinking
- What are the roles of financial institutions such as banks, credit unions, loan companies, and credit card companies in the economy?
- What are the benefits of having a good financial reputation? What are the consequences of having a poor financial reputation?
Communication
- What communication skills are needed to evaluate financial institutions and services?
- What are the similarities and differences between communicating with traditional financial institutions versus online institutions offering only electronic transactions?
- What information is needed to make good investments? How should you interpret that information in order to make sound financial decisions?
Leadership
- What predictions can be made about financial institutions of the future?
- What criteria should be used to evaluate financial services?
- What are your responsibilities when dealing with a financial institution?
Management
- What management skills are needed to organize financial information?
- What resources are available to help you make sound decisions about financial service?
- What steps should be taken if you sense you may be headed for financial trouble?