Intro to Depository Institutions

EQ - How can bank accounts benefit me?

1. Activator – How does the banking system work
1.  Draw and label a picture of how you believe the banking system works
2. Chalk Talk – How banks work
3. AP – Update your picture and summarize how banks work on the back of your paper
4. AP – Reading Response Questionnaire
1. What are savings and checking accounts, and how do they differ?
2. How can opening a bank account help you learn to budget? Why is this important, especially if you use a debit card?
5. Discussion Question - How do you know which bank is right for you?
6. Shared Inquiry - Did You Know
1. Identify unknown words
2. Identify questions you have
3. Discussion 
7. AP - Top 3 - Identify and Rank
1.  Students partner up to list as many reasons as they can to explain why bank accounts are important.
2. Groups will list reasons on the board and then explain why they believe their group has the best reasons.
3. TOD - Students will individually rank their top 3 reasons that teens should learn about banks and bank accounts?

Homework - Complete the Note Taking Guide and be prepared to use the information tomorrow in class.  Intro to Depository Institutions PPT - CLICK HERE FOR THE PPT

Practice

George works as a customer service representative and earns $33,000 per year after taxes.  He has two savings accounts; one at a credit union and the other at a local bank.  These accounts provide him with interest of $135 and $105 interest respectively.  George just recently purchased a new car and owes $400 per month for his car payment.  The car insurance company charges $185 per month and he estimates his upkeep and maintenance will cost him $50 a month.  George rents a one bedroom apartment in a choice location for $950 per month.  His utility bills cost him $225 per month.  In addition, George pays $65 per month to park his car in a secured lot.  George pays $125 per month for the latest iPhone and $125 for the Comcast Triple Play.  His medical and dental insurance plans cost him $175 each per month.  He shops frequently and spends $150 per month on clothes and $200 per month on groceries.  Georges uses $125 of gasoline each month and uses $80 for dining out.  He estimates his miscellaneous monthly expenses are $150.

Sonny Letter Review

Directions

1. Review your letter to Sonny.
2. Identify all comments that apply to your letter.
3. Copy and paste the comments that apply to the bottom of your letter.
4. Revise your letter to make it amazing!
5. When you have finished, please finalize your Baby Budget Poster.

Sonny Advice Letter Comments 

1. Organize your multiple ideas into multiple paragraphs (1 main idea per paragraph).
2. Watch out for run on sentences.
3. How can calculating the percentages spent on each category better convince Sonny to follow your advice?  Implement these calculations when necessary.
4. How does your recommended control system work?  Can you provide a description of what this may look like for Sonny?
5. Check your spelling and grammar (sometimes even spell check misses errors). 
6. You convinced me to review some items in my budget!  
7. You may want to be nicer to Sonny; its only his first time budgeting.
8. Great job!  Sonny is lucky to have you!
9. With some revision, this will be the best letter of advice ever!
10. Feel free to ask for help if you need it.  I will gladly meet with you during a Tribe Time to help you with this composition.