Title: Evaluate financial institutions and services (e.g., savings, investments, credit).
Course: Life Planning (19257-36) > Section: Developing a Plan for Financial Sustainability

Evaluation should include

- types of financial institutions and the services offered by each
- factors to consider when choosing and using checking and debit accounts and peer-to-peer transaction services (e.g., Venmo, PayPal)
- advantages and disadvantages of different types of savings accounts
- factors to consider before making investments
- types of credit and factors to consider before applying for credit
- importance of financial services (e.g., cash management).

Process/Skill Questions:

Thinking

- What are the roles of financial institutions such as banks, credit unions, loan companies, and credit card companies in the economy?
- What is the role of peer-to-peer transactions in the economy?
- What are the advantages and disadvantages of each type of savings account? What factors would make you choose one type over another?
- What are the benefits of having a good financial reputation? What are the consequences of having a poor financial reputation?

Communication

- What communication skills are needed to evaluate financial institutions and services?
- What are the similarities and differences between communicating with traditional financial institutions versus online institutions?
- What information is needed to make good investments? How should you interpret that information to make sound financial decisions?

Leadership

- What predictions can be made about financial institutions of the future?
- What criteria should be used to evaluate financial services?
- What are your responsibilities when dealing with a financial institution?

Management

- What skills are needed to organize financial information?
- What resources are available to help you make sound decisions about financial services?
- What steps can you take to avoid financial trouble?