Part 85, page 325

Transcript

The scan is the source; the transcript is machine-generated from it.

THE IDLE DOLLAR— A MYTH

Dollars deposited in your bank do not, as many believe, remain idle in the bank. With absolute safety to you, your deposits help expand the local economy, create higher personal income and increase our state's net worth.

Banks must keep only a portion of their deposits as cash reserves. Much of the remainder is available for lending and for turnover in the local economy—to finance expanding business, industry, farming operations and personal needs such as cars, homes and appliances.

The loans actually create new jobs, higher incomes and greater demands from consumers, all of which create new deposits which provide for more new loans. This multiplies the effect of the original deposit.

Your deposits also benefit the economy of the state through assisting in community developments through the purchase of bonds issued to build schools, construct other public buildings, waterworks, make street improvements, building parks and other civic projects.

Deposits of public funds are also at work. Surplus funds of local governments which remain in our banking system until they are spent create new money, allow more spending and expand the state's economy.

Your deposited dollars and those of your friends, acquaintances and neighborhood businessmen are always at work benefiting your community, your state and you.

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IS YOUR HOME BURGLAR PROOF?

Apartment dwellers and home owners alike are susceptible to the professional burglars of today. No amount of insurance can spare you the agony and heartbreak of having irreplaceable prized personal possessions stolen.

Even though it is almost impossible to completely burglar-proof your home in this era of burglaries not only in the big cities but in the suburbs and countryside as well, it is advantageous for you to plan your home protection carefully.

• Don't assume that burglars operate only at night. The number of daytime burglaries (as many as at night) is on the rise. • Use cylinder (dead-bolt) locks on all outside doors and make sure that unused doors are always locked. • Purchase a peephole, so you can see who's at the door before you open it. • Don't put any identification on your keys. • Make sure that door hinges are on the inside. • Have locks and keys changed if you move to a new home or apartment. • Keep a record of the serial numbers of items that carry them. • Use the property identification system endorsed by your local police. • Investigate the possibility of having an alarm system installed.

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WHEN TO USE SPECIALIZED CHECKS!

Most bank customers are quite familiar with personal checks, but the realm of specialized items is not always quite so clear . . . certified checks, cashier's checks, money orders and traveler's checks!

What is a certified check? A certified check is a guarantee that funds have been set aside to cover the amount of the check. To purchase one, go to the bank, write a personal check for the proper amount. The bank sets aside that amount of money from your account and stamps "Certified" across the face of

your check. Certified checks are most often used to make large purchases or to close on homes.

What is a cashier's check? A cashier's check is a bank-guaranteed check, the bank's own order to make payment out of bank funds. When you purchase this check, you specify to whom the bank should make out the check and retain a carbon or stub for your records. It's a safe way to transfer major amounts of money from one place to another.

What about a money order? It's a means of transferring money without using cash or a personal check and can be purchased at the bank. It will show your name as purchaser and the name of the person who is to receive the payment.

What is a traveler's check? It is a specially designed payment devised for people away from home and can be cashed throughout the world. The checks are preprinted in various denominations, usually $10, $20, $50 and $100. You choose the total amount you wish to buy and the denominations as well.

When you purchase traveler's checks, you sign your name in a designated place on each one. Immediately before cashing a check, you sign it again. If traveler's checks are lost or stolen, your money will be refunded.

Note: A small fee is normally charged for these specialized items!

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UNIT PRICING— A SAVINGS TOOL

A product's unit price is how much the item costs per pound, per ounce, per pint, and so on. Because different brands of the same product may come in different sized packaging, the best way to know which costs less is to compare the unit price.

To figure the unit price yourself, simply divide the price of the item by the amount in the package. For example: a 12 oz. can of frozen lemonade for 48¢ (4¢ per ounce) is 1¢ less per ounce than a 6 oz. can of frozen lemonade for 30¢ (5¢ per ounce).

Many stores are now posting unit prices on the shelves near the item. This is a big help for economy conscious shoppers.

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DB Cooper-37733