Wk 4 Exit Ticket 2.8, 2.9, 2.10

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 lower than the rate of inflation

There is no relationship between saving and 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

Saving a portion of your paycheck for emergencies

Struggling to cover your financial needs with each paycheck

Having multiple sources of income to cover expenses

Enjoying a comfortable lifestyle without worrying about money

They offer high interest rates on savings accounts.

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

They can lead to overspending and accrue interest charges.

They require a minimum balance to avoid fees.

Social security number

Home address

Passport number

Email address or phone number

Digital wallets focus on contactless transactions with businesses

Digital wallets provide expense tracking for making budgets

Digital wallets store cash in digital form

Digital wallets facilitate sharing money within a group

Ignore all text messages from unknown numbers

Avoid using P2P apps altogether

Share their account details with friends

Verify the authenticity of communication by contacting the bank directly

Setting up an automatic transfer to your savings account

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

Paying your credit card bill in person at a bank branch

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

It limits access to account information to regular business hours.

Using the same password across multiple accounts for convenience

Using a strong, unique password for your online banking account

Keeping your account login information private and secure

Enabling two-factor authentication for an extra layer of security

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

Sharing your login credentials with trusted family members for easy access

Disabling email notifications for account activity to avoid clutter

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