Your Money, Your Goals - A financial empowerment toolkit for social services programs.

Safe place

to keep

your

money

Benefits Risks Other important information

On a

prepaid

debit card

(stored

value card)

Easy to access

Convenient

No account needed

May have fees for activation,

loading funds, using the

card, etc.

May not be insured for you or

have the same protections

from loss or theft as a

savings account if the card or

PIN are lost or stolen.

Check the card

agreement to ensure

that you understand

the fees and whether

you have protection

from loss or theft.

In a

federally

insured

savings or

checking

account

If the institution is

federally insured, up to

$250,000 per depositor

is protected.

Unlike cash, the money

cannot be lost, stolen, or

destroyed in a fire or

other disaster.

You can generally get it

back if someone steals it

by stealing your ATM or

debit card.

May be charged fees if you

do not follow the rules for the

account

You may not be able

to open an account for

a period of time if you

have had an account

closed because of

unpaid account fees

and debts in the last

five years.

Be sure you

understand any

monthly fees and other

fees.

U.S.

Savings

Bonds

The money cannot be

lost or destroyed in a fire

or other disaster. If you

have a paper bond, the

funds can be recovered

The rate is guaranteed

for the length of the

bond.

You lose some of the interest

if you cash the bond before it

matures.

Other

Based on this information, the best place for me to keep my savings is: ____.