Money Services

Do you not know the difference between a bank and a credit union? Are you a little fuzzy on what a government benefit card is? Money Services: Lesson 5 provides participants with the resources to learn about and understand different types of money services. This lesson will also teach you how to manage your accounts once you learn the benefits and drawbacks of each.

Participants Will:

  • Think about which money services they use for their financial needs.
  • Become aware of other places and tools people use.
  • Share what they know about various types of money services.
  • Identify what they want to learn about different money services.
  • Become more aware of fees charged by different money services, especially bank accounts and check cashing stores.
  • Learn how to reduce those fees.
  • Compare and contrast different types of money services for “Mark” in the case study, and determine which option is best for him, given the information provided.
  • Compare and contrast different types of money services to determine which option is best for them.
  • Take action to open and use the type of financial account they select.
  • Identify ways to minimize fees.
  • Know how to monitor accounts to:
    • Avoid overdrafts.
    • Check balances.
    • Watch for service fees or unexpected charges.
    • Watch for incorrect charges.
    • Keep an eye on automatic payments.

Key Features:

  • Learn about extra fees charged by money services.
  • Explore different types ranging from paperless to automatic payments.
  • Find the best money service option for you.
  • Customize activities fit to either a 30 or 60 minute timeframe.
  • Easily add more resources by replicating included master copies.

Activities Included:

  1. Group Icebreaker
  2. What do You Know?
  3. Focus on Fees
  4. Comparing Money Services
  5. What's Best for Me? Guides to Opening & Using Financial Accounts
  6. How to Watch Your Accounts
  7. Wrap-up and Evaluation 

What you'll need from the Resource Box:

  • If easel paper will not be used: 6 copies of the Money Services template; more for larger group

Additional Materials (not included):

 *= optional items

  • Pen or pencil for each participant

  • *6 sheets of easel paper; more for larger groups 

  • Markers

Money services (such as checking accounts, prepaid cards, and check cashing stores) help people manage their money, but users need to be aware of fees.