The Saving Course is designed for beginners to understand the importance of saving, how interest works, and the different strategies and products available to achieve their financial goals. This course follows the National Standards for Financial Literacy and aims to help students make informed decisions about saving money for both short-term and long-term needs.
Beginner: Saving Course
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Course Outline
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Reasons for Saving Money – NS Saving 8-1
- Why People Save – NS Saving 8-1
- Common Reasons for Saving: NS Saving 8-1a
- Creating a Savings Plan: NS Saving 8-1b
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Saving Decisions and Personal Preferences – NS Saving 8-2
- How Saving Decisions Vary – NS Saving 8-2
- Comparing Saving Attitudes: NS Saving 8-2a
- Impact of Personality on Saving: NS Saving 8-2b
- Challenges to Saving: NS Saving 8-2c
- Impact on Financial Well-Being: NS Saving 8-2d
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Interest and Financial Institutions – NS Saving 8-3
- Understanding Interest and Savings – NS Saving 8-3
- Types of Financial Institutions: NS Saving 8-3a
- Interest Rates on Savings vs. Loans: NS Saving 8-3b
- How Financial Institutions Pay Interest: NS Saving 8-3c
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Principal, Interest, and Savings Growth – NS Saving 8-4
- Understanding Principal and Interest – NS Saving 8-4
- Principal vs. Interest: NS Saving 8-4a
- Earning Higher Interest: NS Saving 8-4b
- The Rule of 72: NS Saving 8-4c
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Compound Interest and Savings Growth – NS Saving 8-5
- Benefits of Compound Interest – NS Saving 8-5
- Compound vs. Simple Interest: NS Saving 8-5a
- Impact of Compounding Over Time: NS Saving 8-5b
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Deposit Insurance and Account Safety – NS Saving 8-6
- Importance of Deposit Insurance – NS Saving 8-6
- Federal Deposit Insurance: NS Saving 8-6a
- FDIC vs. NCUA Insurance Coverage: NS Saving 8-6b
- Accounts Without Deposit Insurance: NS Saving 8-6c
- Course Review