Wk 5 Exit Ticket 2.8, 2.9, 2.10

In order to avoid losing purchasing power over time, the rate of return for savings accounts should be lower than the rate of inflation

There is no relationship between saving and inflation

To maximize saving, the rate of return for savings accounts should be exactly equal to the rate of inflation

In order to avoid losing purchasing power over time, the rate of return for savings accounts should be at least as high as the rate of inflation

Having multiple sources of income to cover expenses

Struggling to cover your financial needs with each paycheck

Enjoying a comfortable lifestyle without worrying about money

Saving a portion of your paycheck for emergencies

They can lead to overspending and accrue interest charges.

They require a minimum balance to avoid fees.

They offer high interest rates on savings accounts.

They provide high rewards points that can be converted into savings.

Home address

Passport number

Email address or phone number

Social security number

Digital wallets focus on contactless transactions with businesses

Digital wallets store cash in digital form

Digital wallets facilitate sharing money within a group

Digital wallets provide expense tracking for making budgets

Ignore all text messages from unknown numbers

Share their account details with friends

Avoid using P2P apps altogether

Verify the authenticity of communication by contacting the bank directly

Paying your credit card bill in person at a bank branch

Setting up an automatic transfer to your savings account

Using your bank’s website or app to schedule and pay your monthly bills

Writing a check and mailing it to your utility company

It requires visiting a physical bank branch for most transactions.

It involves higher fees compared to traditional banking services.

It limits access to account information to regular business hours.

It provides 24/7 access to your account from any internet-enabled device.

Using a strong, unique password for your online banking account

Using the same password across multiple accounts for convenience

Enabling two-factor authentication for an extra layer of security

Keeping your account login information private and secure

Disabling email notifications for account activity to avoid clutter

Sharing your login credentials with trusted family members for easy access

Ignoring unsolicited emails that request account details and directly visiting your bank’s website to verify information

Using public Wi-Fi to access your online banking account for convenience