Introduction

If you are like most people, you've heard from an early age that you should save your money. You probably had (or still have) a little piggy bank somewhere in your room. Many teenagers have savings accounts.

Did you know that not all savings accounts are the same? Which one is the best for you, and, why do people save, anyway?

While a piggy bank is good way to for a small child to save, there are better alternatives for teenagers.

Lesson Objectives

Following successful completion of this lesson, students will be able to...

  • Differentiate between savings accounts, money market accounts, and certificates of deposit.

Enduring Understandings

  • The road to financial independence should begin at an early age in order to build wealth and achieve financial security.
  • Proper management of money is essential to personal financial stability and success.
  • The level of risk affects the potential for reward.

The above objectives correspond with the Alabama Course of Study: Career Preparedness standard: 17B

This lesson incorporates the following Literacy Standards: R1, R2, R3, R4, R5, R6, R7, R10, W1, W2, W3, W4, W6, W8, W9, and W10

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