1 / 8

Savings Tools and You!

Savings Tools and You!. Savings Tools. Savings tools are secure and liquid accounts offered by depository institutions assisting in the management of a savings fund. Savings Tools. Determine which savings tools are appropriate to assist in the attainment of personal financial goals.

vea
Download Presentation

Savings Tools and You!

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Savings Tools and You!

  2. Savings Tools Savings tools are secure and liquid accounts offered by depository institutions assisting in the management of a savings fund

  3. Savings Tools • Determine which savings tools are appropriate to assist in the attainment of personal financial goals

  4. Low Risk Savings tools are very secure Most depository institutions offering savings tools are backed by government insurance

  5. FDIC The most common type of government insurance is offered by the Federal Deposit Insurance Corporation (FDIC) FDIC is a federal government agency insuring certain depository institutions against loss If a depository institution covered by FDIC fails, FDIC will restore the lost funds up to $250,000 per account

  6. Liquidity Most Liquid Lowest Interest Highest Interest Least Liquid

  7. Choosing a Savings Tool Different savings tools can be utilized to assist in reaching personal financial goals Higher interest rates are a trade-off for lower liquidity

  8. Choosing a Savings Tool • When and how often access is needed to funds helps determine which savings tool to use

More Related