1. Describe some examples of checking and savings account transactions that result in assessment of fees or penalties. Which are the least and most avoidable?
2. You know someone who recently had $90 in overdraft fees for two small debit card transactions. Explain to him why such high fees resulted from such small transactions and the relative benefits of having an automatic funds transfer agreement versus an automatic overdraft loan agreement versus overdraft protection.
3. When would you recommend using an individual account, a joint tenancy with right of survivorship account, and a tenancy by the entirety account for your monetary assets?
4. Many people desire protection from the possibility of overdrawing their checking account. Banks make it easy by allowing you to opt into overdraft protection. Explain how this and other overdraft protections work and why the true cost of opting in may exceed the benefits.
5. When might it be appropriate for you to save via a certificate of deposit versus a money market account?
6. What should you do if your ATM or debit card is lost or stolen? Why?
7. Have you ever had a disagreement with a friend or family member over a money issue? How might you communicate differently now?
8. Review the questions for those contemplating marriage that are listed on page 158. Discuss the importance of these questions. Most couples do not discuss these issues early in a relationship. Why do you think that is so, and what do you think you will do should the challenge arise for you?