Money:

1
Money Coins, Bills, Credit, Checking, Banks,
Bargaining, and more
2
Coins

• 100 cents in a dollar 100 1
• Dont let size confuse you
• Faces of Historical Leaders

3
Bills

• United States Dollar
• All bills same size
• All bills same color
• Faces of historical leaders
• Sometimes called bucks

One Dollar 1Face of George Washington, first
President
Five Dollars 5Face of Abraham Lincoln, Civil
War President who abolished slavery
4
Bills
Ten Dollars 10Face of Alexander Hamilton,
patriot and strong politician
Twenty Dollars 20Face of Andrew Jackson,
controversial President who opposed creation of a
US National Bank
5
Credit Cards

• Works by a Credit Cardcompany paying a vendor,
  and you payback the CC company with an interest
  rate
• Can be extremely helpful
• Can be dangerously tempting
• Many Americans use them

6
Dangers of Credit Cards

• They are easy to abuse since you can spend more
  money than you have.
• Some people believe that since they pay off a few
  months in a row with no problem that they can
  accumulate more debt on their credit cards, this
  leads to problems.
• If you are late on a payment they credit card
  company will, in some cases, charge you a rate of
  up to 20.
• For more information on the dangers of credit
  cards see the handout in your folders.

7
Checks

• Make sure you have enough money in the bank to
  cover the check.
• Review your bank statements promptly.
• Record all the checks you write in your checkbook
  register or use duplicate checks that create a
  carbon copy of each check.
• Deposit paychecks and other checks in a timely
  mannermost checks cannot be cashed after three
  months.
• Use a pennever a pencilto write checks.
• Write your checks legiblyscribbling can cause
  problems when the check is cashed.
• Fill in the check amount and payee well to the
  left to prevent someone from adding numbers to
  make the check larger or altering the payee's
  name.
• If you need to correct a mistake on a check, tear
  up the check, enter it as "void" in your
  checkbook register and write a new check.
• Don't sign blank checksthey can be stolen or
  used by someone else.
• Know where your checkbook and ATM card are at all
  times and report missing checkbooks, checks or
  cards to your bank immediately.

8
Banks

• Bank of America
• Citizens
• St. Annes
• Fall River 5
• Sovereign

9
Establishing a Bank Account

• When setting up a bank account you typically will
  need to deposit a minimum amount of money (can be
  as high at 100).
• Banks will require that you have two forms of
  identification, such as a passport and drivers
  license.
• The easiest way to transfer money into your
  account from your home country is through a wire
  transfer.
• Remember that checks will typically be held by
  the bank for a few days before the money is
  deposited into your account. Withdrawals before
  the check has cleared will incur a late charge.
  

10
Bargaining

• American economy is largely non-negotiable
• Very few cases where bargaining is accepted
  typically large purchases, such as cars, and
  sometimes rent