Case Study: 1 (4Marks)

FIN401

Twins Emma and Emmett are excited to be starting college next year. Emma is leaving home behind and heading to college in Florida while her brother Emmett is going to live at home and attend a local university. Up until now, they have always used cash or gift cards received for holidays or birthdays to pay for their expenses. Any savings they had was in their piggy banks in their rooms. Now that college is almost here, they realize that cash may not be the best option.

1. Why is cash not always a good option?
2. What should Emma consider when picking a bank? What about Emmett? Do they have different needs?
3. Find the right combination of products and services, convenience and cost. Both Emma and Emmett need to ask lots of questions so they can pick the right bank for each of their needs: