Tips and Tools For Financial Success - Newton Free Library

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Stocks: Parts of a company, called shares. If the company does well, you might receive periodic dividends based on the number of shares you own. Dividends are part of a company’s profits that it gives back to you, the shareholder. Substitute Check: An electronic image of your check that has the same standing as the actual check. Thrift: A financial institution that operates under federal and state laws and regulations. Thrifts make loans, pay checks, accept deposits, and provide other financial services. Traditional Individual Retirement Arrangements (IRAs): Contributions to a traditional IRA may be tax deductible, based on the amount of your contribution and your income. The earnings on the amounts in your IRA are not taxed until they are distributed. Transaction: A banking activity (e.g., depositing or withdrawing money, using your Automated Teller Machine (ATM) or debit card, or having checks direct-deposited into your account). Treasury Inflation-Protected Securities (TIPS): Provides protection against inflation, and the interest rate is tied to the Consumer Price Index. Truth in Savings Act (TISA): An act that requires financial institutions to tell you the terms of consumer deposit accounts (e.g., checking or savings accounts). It also requires the bank to periodically send you statements for your accounts. Unsecured Loan: A loan not backed by collateral. Credit cards are often unsecured loans, although some are secured by a bank account. U.S. Savings Bonds: A long-term investment option backed by the full faith and credit of the U.S. Government. Savings bonds can be purchased at a financial institution for as little as $25 or through payroll deductions. U.S. Treasury Securities: Loans to the U.S. Government for a certain period of time, called a term. Treasury securities are backed by the full faith and credit of the U.S. Government and include Treasury bills (T-bills), notes (T-notes), and bonds (T-bonds). Variable Annuity: An insurance contract that invests your premium in various mutual fund-like investments. Variable rate: An interest rate that may change during the loan term. Withdrawal: The process of taking money from your bank account. Wire Transfer: A form of money transfer from one bank to another. 137
138 Congressman Barney Frank spoke at the final Financial Literacy at the Library event on July 16, 2012.
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Financial Literacy at the Library T
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Background and Acknowledgments Fina
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Chapter V. Credit Overview of Credi
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6 Newton Free Library hosted Financ
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8 © 2011 American Consumer Credit
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Goal Setting & Financial Planning (
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Financial Goals Worksheet (SMART)
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Planning For Unexpected Life Events
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1. Determine what to keep at home a
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5. Keep a close watch on your bank
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20 Kip Child, FDIC Community Affair
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Introduction to Banks (from FDIC Mo
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24 Debit Cards • Fees? • Fee wa
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Ways to Take Money Out of Your Acco
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Using Electronic Banking (from FDIC
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Activity 1: Checking Account Fees (
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Activity 3: Record Transactions in
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Sample Check Register Check Number
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Paper Money Copy, cut, and put the
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III. Budgeting Practice Good Habits
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Create a Budget—and Pay Yourself
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Household Budgeting Worksheet Housi
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Read the scenario, review the Month
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Increase Your Income How might how
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Develop a Spending Plan A spending
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Implement Your Plan Seek Assistance
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• Educate yourself and learn more
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Budgeting Quiz 1. How long should y
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Budgeting Quiz -Answers 1. Correct
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IV. Saving and Investing Preparing
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The true magic of compound interest
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9. Pay off high-interest credit car
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Risk-Return Relationship Table (FIN
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Compounding with Tables (FINRA Inve
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Retirement Savings Vehicles (FINRA
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In most cases, you roll over a trad
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Activity 2: Savings Goals Worksheet
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Investing Quiz 1. Which of the foll
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Investing Quiz - Answers 1. Correct
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Making your First Investments http:
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V. Credit Overview of Credit What i
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What Is a Credit Report? (from FDIC
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How the Credit Report Is Used (from
Page 88 and 89: How to Get Your Free Annual Credit
Page 90 and 91: Credit Cards: What Are They Used Fo
Page 92 and 93: Credit Card Comparison Chart (from
Page 94 and 95: ACCOUNT ACTIVITY Date of Transactio
Page 96 and 97: Activity 1: Maria’s Credit Report
Page 98 and 99: Activity 3: Who Poses the Most Cred
Page 100 and 101: Credit Terms and Definitions Bankru
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Page 104 and 105: VI. Borrowing Basics Types of Loans
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Page 108 and 109: To Rent or To Own? (from FDIC Money
Page 110 and 111: Activity 1: Which Loan Is Best? (fr
Page 112 and 113: Activity 3: How Much Mortgage Can P
Page 114 and 115: Note: Make sure you compare loan of
Page 116 and 117: Estimated prepaid amounts for inter
Page 118 and 119: Borrowing Basics Quiz 1. Which of t
Page 120 and 121: Answers for Borrowing Basics Quiz 1
Page 122 and 123: VII. Life Skills Menu Planning Work
Page 124 and 125: Grocery Shopping Tips 1. Clean out
Page 126 and 127: Computer Terms and Definitions Comp
Page 128 and 129: Housing Terms and Definitions Appli
Page 130 and 131: 8. According to the 2010 Consumer E
Page 132 and 133: VIII. Glossary Glossary (excerpted
Page 134 and 135: Compounding: Interest paid on money
Page 136 and 137: Interest: A percentage of your bala
Page 140 and 141: IX. Recommend Resources Bibliograph
Page 142 and 143: Careers and Life Skills Bostick, Na
Page 144 and 145: Heath, Julia A. Personal finance es
Page 146 and 147: Debt information for teens: tips fo
Page 148 and 149: Tutor/Teacher Cordell, Jane. Cambri
Page 150 and 151: Newton Free Library Financial Educa
Page 152 and 153: I. Learning English Online Resource
Page 154 and 155: Investor Knowledge Quiz - http://ww
Page 156 and 157: American Consumer Credit Counseling
Page 158 and 159: Nationwide Resources (from American
Page 160: This publication is made possible b
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