Kiddies

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Kiddies

  1. 1. KIDDIES BANKA financial institutions good for your children<br />John Anthony R. Magto<br />
  2. 2. Savings Account<br />Bank savings accounts shows your child some every important money managements elements. These concepts underlie any type of investment decision’s she’ll make throughout her life.<br />Two types of bank savings account exist :<br />Statement account <br />Passbook account <br />Some checking accounts pay interest {these may be called NOW accounts.}<br />However, these account aren’t designed for savings;<br />They’re used to write check’s to pay bills <br />The interest is only an extra feature of the accounts<br />
  3. 3. Checking accounts<br />Most of us are well aware of the importance of creating budgets and plants for our personal finances.<br />However, sometimes we forget that we also need to teach our children about planning and budgeting.<br />More from investopedia:<br />Your First Checking Account<br />The Evolution Of Banking.<br />
  4. 4. Mortgages<br />The long-term financing used to purchase properly is called a mortgage.<br />The property itself serves as collateral for the mortgage until it is paid of.<br />A mortgage usually requires equal payments, consisting of principal and interest, throughout its term.<br />The interest is calculated on the outstanding principles balance that declines as payment are made. <br />
  5. 5. Certificates of deposit<br />A certificate of deposit is a promissory note used by a bank.<br />It is a time deposit that restrict holders from withdrawing funds on demand.<br />Although it is still possible to withdraw the money, this action will often incur a penalty.<br />

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