It sure has been an interesting week.
There is so much to learn about the world of Personal Finance!
Over Spring Break, we began to complete Everfi modules that educated us about this subject. That was only the beginning, however!
This week, we opened accounts with the Bank of Nettie in Weserville. We received paychecks and learned how to deposit them into our accounts.
Below: an example of a pay stub.
We also learned the process one must go through to pay a bill. (Ours was a bill from the electric company.) We were even given the opportunity to withdraw money from our accounts and purchase something from the store.
In addition to this, we gained valuable information about the banking structure of the United States. The Fed (short for the Federal Reserve) oversees all other banks in the United States. There are twelve regional banks. Most of these are located on the east coast.
Below: Janet Yellen (current Chairman of the Fed)
We did learn a lot this week. I learned that paying bills is not fun. Being able to do what we want with our money hopefully people will learn that saving money is important. Hopefully not to many people went broke!
ReplyDeleteI learned being broke really sucks.
DeleteWhat we learned this week was very informative and this really helped summarize the important subjects! Opening our bank accounts and paying bills was stressful but it will help us in the future. Learning about the Fed is also really important because they are in charge of the entire banking system. Knowing about banking and money is crucial to be successful in the future.
ReplyDeleteI never knew how complicated all of this was before until this week! I thought I had all this figured out years ago, but now I realize that I need to be even safer with my money! If I don't then I could lose everything!
ReplyDelete