Banking refers to financial institutions that are licensed to receive deposits and make loans. Banks keep track of deposits and withdrawals to keep customers' money safe. Financial institutions also include trust companies, insurance companies, and brokerages, and they all help customers manage their money through savings, investments, loans, and more. Banking is important as it allows people to budget, save money, and become eligible for loans and credit. Learning banking skills early helps with financial management in the future. In the author's opinion, banking provides a useful way to track spending, save money, and understand one's spending habits.

1. Banking
By: Tian Hao Xu

2. What is Banking?
• Banking is the financial institution licensed to receive deposits and make
loans according to investopida.com
• A bank will also keep track of where and when your money gone,
keeping your money safe, etc…

3. What are Financial Institutions?
• A financial institution (FI) is a company engaged in the business of
dealing with monetary transactions definition from investopdia.com
• Financial institutions includes banks, trust companies, insurance
companies, and brokerage firms or investment dealers.
• All these institutions can keep your money safe, spend the money you
kept safe on investment or goods or help you manage your money.

4. The Importance of Banking
• Banking is important as you can keep track of
your money
• It can be for protecting your money, setting a
forced budget or the ability to be eligible for
loans, mortgages or credit cards
• These things makes banking highly important
as we teens go grow up we need to be able to
manage our own finances and bank our
money
• It is better to learn these sooner than earlier
as it makes the future a lot simpler

5. What Do I Think Of Banking
• In my opinion banking is a extremely
useful skill by being able to know how
much money you have and making a
budget you can save a lot of money.
Banking will show that even the smallest
spending will have a impact on your
expenses. Banking will also help you
determine if you are a spender or saver,
as it will show you if you spend a lot or
save a lot.