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Contact Mary Suiter
mary.c.suiter@stls.frb.org
314-444-4662

Posted: 03/07/2008
Fed resource: The Story of Checks and Electronic Payments
Short description: Personal Banking 101
   
Lesson time: 60 minutes
Materials: A copy of The Story of Checks and Electronic Payments booklet for each student
Audience: Middle School, High School
Grades: 8, 9, 10, 11, 12
Subjects: Federal Reserve, Money and Banking, Personal Finance
Concepts: Federal Reserve - Banks, Function of the Federal Reserve
Money and Banking - Banks, Money, Saving
Personal Finance - Banks, Credit, Financial Institutions, Goal setting, Saving, Spending
Documents: None
Tip/Tool:
Use this publication to introduce basic banking conepts in financial management, personal finance or accounting courses. After the class has read the publication, discuss the following:

--the roles of checks and electronic payments in helping our economy function smoothly;
--personal finance skills such as writing a check and balancing a checking account;
--the role of the Federal Reserve in facilitating payments in our economy;and
--the advantages of checks and electronic payments over cash.

Tell the students to do some research on credit cards and debit cards. Ask them to develop comic book panels to add to the booklet. These panels should explain the differences between credit cards and debit cards and the advantages and disadvantages of each.

Submitted by: Jennifer Macalady
Central Visual and Performing Arts