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Basics of Banking
This free online Financial Literacy course will teach you a range tricks and techniques which you can use to help manage your finances better. Poor personal finance management can severely affect your life and credit rating. This course will teach you about saving money, budgeting for college, dealing with debt, financial aid and monthly planning.
Main Features
- Save money
- Learn how to apply for financial aid
- Privatized loans vs Federal loans
- Monthly saving goals
- Scholarships, grants
- How to learn healthy spending habits
What is the target audience?
Gaining financial literacy is empowering, although as a complete beginner is very intimidating. There are a lot of tutorials, documentation and advice already out but how do you start and proceed with learning. This resource is the place for student athletes to began their financial independence.
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Why Saving Matters
- Saving isn't just about putting money aside; it's planning for your future.
- Goals of saving: Emergency funds, big purchases, college, or starting a business.
- Different saving strategies for different goals
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Ways to Save
- Types of savings accounts: Basic savings, High-yield accounts, Certificates of Deposit (CDs).
- Understanding interest rates and the benefit of compound interest.
- Practical tips: Automating your savings, cutting unnecessary expenses.
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Compound Interest - The Eighth Wonder
- Discover how compound interest can turn your savings into a growing investment.
- The power of time: Why starting early makes a big difference.
- Real-world examples to illustrate the impact of compound interest.
Quiz Questions:
- List three factors to consider when choosing a bank.
- What is the primary purpose of a checking account?
- Explain the benefits of setting up a direct deposit.
