1. Monitoring Economic Conditions. Research current economic conditions (interest rates, inflation) using The Wall Street Journal, other library resources, or Web sites. Based on current economic conditions, what actions would you recommend to people who are saving and borrowing money?
2. Comparing Financial Institutions. Collect advertisements and promotional information from several financial institutions, or locate the Web sites of financial institutions. Create a list of factors that a person might consider when comparing costs and benefits of various savings plans and payment accounts.
3. Comparing Savings Plans. Collect online information from several financial institutions about the savings plans they offer. Using Sheet 25 in the Personal Financial Planner, compare the features and potential earnings of two or three savings plans.
4. Comparing Payment Accounts. Using Sheets 26 and 27 in the Personal Financial Planner, compare the features and costs of checking accounts at two different financial institutions. Online searches of bank Web sites may be useful.
5. Researching Checking Accounts. Several states require that banks offer basic checking accounts. For example, in Illinois, New York, New Jersey, and Minnesota, check services with minimal fees must be made available for consumers making a limited number of transactions. Obtain information about the availability of these types of lifeline accounts in your area.
