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Title:

Saving

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Money Market Deposit Account (MMDA) pays ... New Roman Calibri Wallstreet design template Office Theme 1_Wallstreet design template Saving & Investing Why Save? – PowerPoint PPT presentation

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Title: Saving


1
Saving Investing
  • Chapter 6

2
Why Save?
  • Chapter 6 Section 1

3
Main Idea
  • Savings consist of income set aside for future
    use.
  • How does that benefit YOU (the individual)?
  • A person receives interest on a savings plan for
    as long as the funds are in the account.
  • How does that benefit THE ECOMONY?
  • It provides funds for others to invest or spend.
  • It allows businesses to expand, which provides
    increased income for consumers and raises the
    standard of living.

4
Trade-Offs
  • Some savings plans allow immediate access to your
    funds but pay a low rate of interest.
  • Others pay higher interest and allow immediate
    use of your funds, but require a large minimum
    balance.

5
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6
Savings Accounts
  • Savings Account Account that pays interest, has
    no maturity date, and from which funds can be
    withdrawn at any time without penalty.
  • Money Market Deposit Account (MMDA) pays
    relatively high rates of interest, requires a
    minimum balance of 1,000 to 2,500, and allows
    immediate access to funds.

7
Time Deposits
  • require savers to leave their funds on deposit
    for certain periods of time, or maturity.
  • Time deposits are often called certificates of
    deposit (CDs), or savings certificates.

8
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9
Insuring Deposits
  • After the stock market crash of 1929, the Federal
    Deposit Insurance Corporation (FDIC) was created
    to protect peoples funds.
  • Insures up to 100,000 for each separate account
  • 1/1/2011 that will adjusted for inflation

10
Money Now or Later
11
Review (or Bell Ringer)
Savings Account CD Money Market
Advantage
Disadvantage
Access Any Time
Higher Interest
Best Interest
High Deposit Needed
Time Deposit
Lower Interest
12
(No Transcript)
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