for biz kids is provided by a coalition of America's credit unions, where people are worth more than money.

A complete list of individual credit union funders is available at WXXI Dawn.

Every day, America's credit unions help members with their financial needs and with programs like Invest in America.

It's only fitting that credit unions support this pledge because financial education is what we do.

Learn more at Love My Credit Union Board.

Navigating through the worlds of the financial market force can terrify the untrained to my challenge, find an institution that will help protect the money I've made from making wilderness survival shows.

But first I must eat.

Made some soup.

Scott's beetle grabs some slug, slime, some dirt, and that for flavoring and some root paste.

It's really not bad.

It's very nutritional.

You don't want to stay still in this unforgiving territory.

It means your money is doing you any good.

It is crucial that you find a financial institution that will keep it safe.

I found some options.

Banks, credit unions, brokerage houses.

But I need to choose a book that you can usually find them in most parts of the country.

And judging by its coloring and markings, it's a financial institution, probably a bank.

This is a far safer place for my money.

But first, I must buy biscuits.

I'll get right on it.

When making money is the aim these days, they bring that game and that is should you do it?

They know what and let you know just how to make that go.

And that is right.

So learn a little more that bring in managing does inside of you.

Brought to you by financial institutions get institutionalized today.

Every day money moves around and through the world's financial markets.

And there are institutions that help keep that money moving.

Financial institutions.

Exactly.

Banks.

Credit unions.

Savings and loans.

Stockbroker.

Just asset management firms.

Are we allowed to say asset on television?

Financial institutions.

Trade within financial.

Markets like stock markets, futures, derivatives.

Who are you.

Calling.

Derivative?

No.

Often derivative markets like selling futures.

Futures, right.

I already knew that.

And I was testing you and you passed.

There are many markets that financial institutions work in bond market.

Money market, spot or cash market.

Over-The-Counter market, real estate market.

All this market talk makes me want to go shopping.

And the financial institutions help you do the buying you need to do in the markets.

Or selling.

Many people get financial institution and financial market confused.

So don't.

Or what?

Or you're not a biscuit.

A biscuit.

I am a biscuit.

Biscuit.

And it says so in my contract.

Right?

Right.

Whoa.

Free dental.

What is a financial institution?

We have a lot of financial institution.

Federal Reserve Bank of America.

Ameriprise, Merrill Lynch.

I don't know on.

But financial institutions impact everybody, including those who need you.

Okay.

Today, we're going to learn how financial markets trade in the world's financial institutions.

Actually, I think it's the other way around.

Financial institutions trade in the world's financial markets.

Who's the substitute teacher here, anyway?

I think I've got that information right here.

Yeah.

The world's financial institutions trade in the world's financial markets.

That's right.

Well, that's what I said.

No, it isn't.

Yes, it was.

No, you didn't.

Yes, I.

Did.

No.

Yes, I did.

No, you didn't.

Well, tell me what I did say.

Hey, you're a kid and you like to make money, and you're probably wondering, why should I care about financial institutions?

Well, there are all kinds of financial institutions that you're going to come across in your life to help you do that.

Most kids start out with a.

Savings account at a bank or credit union.

You can also open a checking account.

Buy a certificate of deposit.

Get a loan for a car or a house.

Even a credit card.

Banks and credit unions are not all the same.

They all offer similar financial products, each with some differences.

Whether it's interest rates or fees, it's always best to ask what's included.

Later, when you've saved up some money, you might want to invest in stocks.

And there are lots of options there.

You can choose a discount brokerage.

Firm or a full service brokerage firm.

And if you're really serious, maybe even an investment house.

All financial institutions that will help you invest in the world's financial markets.

Finally, as you need to plan for retirement, you can use an asset management firm.

She said.

Asset that's a financial institution that helps manage all kinds of investments for people.

Sometimes they're called portfolio management companies.

These institutions help plan and implement a strategy for people to reach their financial goals, whether it's retirement, that big trip or saving for college.

There are a lot of different financial institutions out there now.

Your cousin Ed, the one you've been lending money to.

It's a great investment.

It's not a financial institution.

More financial liability now.

Banks and credit unions and savings and loans and stock brokerages and asset management firms are all examples of financial institutions.

And they do business in financial markets.

Thank you, Dr. Phil.

Now it's like my daddy used to say, if you're gonna start crying.

I'm here.

I'm Maddie.

And I'm Kelsey.

Louis, you started the pink polka dot scaled the pink progress scale as the fundraising girls for pediatric brain tumor research at Children's Hospital and Regional Medical Center in Seattle.

The pink polka dot school started when our good friend Sydney Coxon died of a brain tumor and we all decided that instead of sitting around being sad about it, we should do something to help.

Our friend Sydney was always happy and she was all about having fun and her favorite thing was pink polka dots.

That's why we name the guilt people gloss over.

All so far we've raised about $52,000.

The financial institution that we use is a bank.

We're going to write another chapter $5,000 for at the beginning.

You have this sheet here, which is to keep track of all the checks you write.

Here are the checks.

Here you write the date.

Then you write who is being paid to?

And then in numeral C, write the numbers of how much money the check is for.

And you write out the numbers in words, and you can write a little memo about what it's for.

And then you sign on this line.

We made a lot of mistakes first, but now we know how to do the kind of stuff you need to do, like fun.

Farnsworth Twice a year, we donate the money we raised that so far in that year to Dr. Jim Olson, who works at Fred Hutchinson Cancer Research, going after Olson.

Thank you very much.

I'm an associate member here at the Fred Hutchinson Center.

Our lab works on developing new therapies for kids with brain tumors.

What are you working on today?

I'm working on a nanoparticle experiment using these RNA to give to the tumor cells today.

I think that we will cure some of the surgically curable cancers simply because of this.

It's really satisfying where our money goes because we know what Dr. is doing and he's making really impressive discoveries, and we know it's partly because of us.

Sidney was a really beloved person by everybody, and people all wanted to do something to help out.

Some of the things we did to raise money are selling cards.

At the Children's Hospital Gift Shop.

We have dance fundraisers and golf tournaments annually.

Our goal is to raise $1,000,000.

The goal is to cure brain cancer.

Clearly, a bank is a much safer place for your hard earned cash than.

Your underwear drawer.

I know that kids got some money in here somewhere.

I'll find it.

I was going to say a piggy bank, but whatever.

The point is, banks are safer.

Well, yeah, but it's more than that.

See, your money grows when it's in the savings account because the bank adds interest.

Plus, the bank offers checking accounts, CDs, IRAs, all sorts of loans.

And at the same time, they're paying you interest for your savings.

How do they do that?

Well, you know, the bank lends money to people for houses or to start a business or.

Yeah, well, those people pay the bank interest.

Okay.

So the interest the borrowers pay is a lot more than the interest the bank pays you for the use of your money.

Boys, they use my money to lend to people.

Yeah, they lend your money to other people so that they can buy a house or a car.

My money?

Yeah.

Yours and all the other depositors money.

I didn't know that.

In fact, your money could be in your neighbor's house or your friend's car or the new pizza shop down the street.

Wait, are you saying I own part of a pizza place?

Well, hello.

How's the pie?

Yeah.

Can I get one pepperoni pizza stepped?

Oh, my God.

No, that smells good.

It's time for another episode of The Time Traveling Toll Brothers.

This episode, episode four Our Intrepid Explorer is a course for Genoa, Italy, 1406.

Let's go.

For.

Wow.

We made it.

To the very first modern bank in Genoa, Italy.

I heard it was founded in 1406.

Matt, the world's banking industry started right here.

Yeah.

Look, you put out your money, and these are back boxy.

And my brother Anthony, he got it for you.

What do you say?

Hey, look down there.

That's Giorgio Carmody.

His family started this bank.

Yeah, well, the job's really.

I don't know.

What else.

Are you going to keep your money in your shoe?

Well, I think.

Hey, I'll take my foot.

Look out.

Yeah.

Anthony protected the money.

How are your savings at the blood bank?

Very well.

I'm thinking of switching the Transylvania investment portfolio.

Earnings off for the brokerage houses, the best in the country.

Adams is handling all of my blood now, so I'm more of a bloodsucker.

Time for another episode of Fake Up.

Dad, look what the you say, Leslie.

Wow.

Are you going to buy something with that?

No, I think I'm going to save it.

All right.

Well, bank of Dad is here to help.

I want you to fill out this deposit slip.

We'll get that right into your account.

Hey, Dad.

I mean, just go on and go to the mall quick, like a credit card in case you've had some good sales.

Bank of Dad credit application.

You fill that out for the card.

Of course.

We're going to have to check your financial history to determine what your credit limit will be.

My credit limit.

All right.

Very good.

Here's your receipt.

We'll get that into your account right away.

Almost $12.

Yes.

Like we've got the credit card here.

It is good for one day, only your limit will be $50.

$50.

I can even buy her jeans with that.

So you're putting me in jail or something?

It's your credit history, dear dad.

Have a nice day.

Hello, bank of Dad.

Hey, Dad.

I need 100 bucks to fill up on gas.

Can you transfer money into my checking account?

I'm still waiting for your loan application that.

I'm almost on.

E Well, judging from your history here, you've made regular payments.

I can do $100.

You'll have to pay it back next Friday.

Wow.

Thanks.

Bank of Dad.

Banks and.

Credit unions may look the same.

But they're not.

They both have lobbies that look pretty similar tellers behind windows and a few desks where people are working out the details of loans and savings accounts.

But they're structured differently.

And perhaps the biggest difference is that credit unions are owned by the very people who need their services, and they're also not for profit.

They got started back in 1934 during the banking crisis of the Great Depression.

They were seen as a way to help rejuvenate the economy.

Rejuvenate?

Can you spell that?

Huh?

Why?

What does that have to do with the difference between banks and credit unions?

Nothing.

I just wanted to know if.

You had to spell, rejuvenate or.

J. I a badly drawn here.

I was in a jam and needed cash.

I have a job, but I don't get paid for about a week.

So I went to a payday loan place because I thought they were regulated, you know, like other financial institutions I used.

And then I figured out the interest I have to pay.

Let me tell you, it was a rude awakening.

You know what I'm talking about?

Get out of my yo, yo.

I pay 10%.

No, no, I paid 20%.

No, don't pay through the nose.

Yes.

And my nose only has one side.

My name is Sarah and I got caught up in short term loans and it got me in debt.

I moved in with a friend, stayed with her for a while, and I got a job pretty quick after about a month, but I needed more cash to get into a place or pay her rent.

And so getting the payday loan was the short term loan was quick.

Well, it was getting into loans about $700 and my paychecks were only like $500 every two weeks.

So I would have to loan again from another place so I could pay off that one.

And it just got me in trouble.

I work here at Tulip Cooperative Credit Union as a member service officer, so when Sarah came in, she was previously dealing with a short term lending company.

She was paying 11% every two weeks.

And then she came to us and we offered her a $250 loan and with a 8% interest rate over the entire year.

I ended up going into the credit union and getting a long term loan to pay off those and deal with my credit and everything.

And that just helped everything helped me get out of that.

It pays to know the difference between short term loans.

I mean, oh, god, it pays the difference to know, oh.

Basically financial institutions are there to provide financial services to their customers.

And members allow customers to make deposits, make withdrawals, be able to get loans, be able to take out certificate of deposits, do a variety of things like that.

So comparing getting a $500 loan from a credit union or a bank versus a $500 loan with a short term lending company at the credit union or bank about the highest interest rate.

You would be paying would be 16%.

Even with that 16%, you're only looking at $80 in interest on the $500 loan versus with the short term lending company where you could be paying between 300 and 400% APR, which would be roughly $1,750 in interest.

1750 dollars.

That's a new saddle.

Yes, short term loans can be great at first, but in the long run it can be a bad idea.

If I can get out of debt, so can you.

It's something that you always have the option to do if you go to the right places.

Hey, this can it pays to know the difference between financial institutions.

Around one day in future that people buy and sell pieces of ownership in companies.

Call it the stock market.

What do you think?

Ain't that slick, huh?

Oh, ouch.

Hey, what you're doing?

Just looking over my monthly investment statement.

It's a summary of all the shares I own in the company.

You're the owner of a company?

As an investor, I am one of thousands or millions of owners in a company.

All right.

Wow.

And kids can do this.

Yeah.

I mean, kids can go to a brokerage house if you're under 18.

It's called a custodial account, which just means you have adult supervision.

So what's a brokerage house?

A brokerage houses a financial institution that buys and sells in financial markets.

In this case, the stock market.

So a stockbroker will buy and sell stocks based on my order.

All right.

So they'll do what I tell them.

Exactly.

And are stocks as safe as like a savings account?

Well, when you invest in stocks, there's always an element of risk.

Yeah, you could lose money, but you could also end up making millions.

All right, but it sounds like you have to be pretty safe.

Yeah, but without risk.

There is no big reward, so.

Okay.

And kids can really do this.

Kids can do this.

Like 18 and under.

Kids can do this.

It's can you kids can do this.

And yes, kids can do it.

Oh, yeah, kids can definitely do this.

My financial institution is the stock market like basketball.

The more you play, more pays on 15 year old.

And over the past ten years, I've made $52,000 investing in the stock market.

If you do it right in basketball and investing in both get big payoff.

I saved up birthday Christmas money change from the couch, all that and I bought my fair share of Nike.

I still own Nike stock and it's gone up over 35%.

This is about as up.

I started investing around the age of say about five.

My main influence financially has been my mother.

Welcome.

It's time to see who is financially literate.

John my junior, right.

Our investment club is called Johnny James.

First of all, who were you, John?

The Swahili for Cooperative Economics.

We're going to play our financial trivia game, too.

Or you're going to come up at a time.

I'm going to ask the question.

The first one that rings.

The bell and answers correctly gets ten.

Points.

She's taught me everything.

She's instilling a mentality in me.

Okay, I'm ready for Savannah and Kermit.

What is a bull investor?

What are growth stocks?

What is a broker?

Says, I'm so young.

I have time on my side and so many people out there that are making millions and billions of dollars and why can't we make money with them?

There's no need to be in debt.

And basically what I've learned through my mother, well.

Let's just say I'm a thousand a year, I'm.

40,000.

And I've been investing for about a year and a half.

I just started investing about a month ago.

And 13 years old and I've been investing for around two years.

Now.

Once you decide that you're going to invest, you also decide who you're going to invest with.

Maybe a large brokerage company, an online company that's more do it yourself or a discount brokerage.

What is a discount broker?

And discount broker is someone that doesn't do any research, doesn't give you any advice.

They just help you make the purchase.

I think a company like Charles Schwab, which is a larger company, they'll give you much more services.

If full service broker is a broker who not only helps you research, but also helps you with your retirement fund for fiction.

Very good.

You can go in, you can have a person to talk to or you can do it at home online and they'll be able to help you more along the way.

Who's next?

If you do, it will share builders like many of us do.

You can do it yourself with less costs.

It's strictly online.

You can't go any store.

You can't call anybody.

But if you've done your research, it's very convenient for you.

Right now I'm just going to do a simple trade or buy or sell and write down, by the way.

So it's very simple.

So first you need to know the ticker symbol or just a short abbreviation for your company.

See the three or four letters.

You have to let them know that you're buying.

Let them know how much I'm buying.

Five shares a market order.

Just let you know as soon as the market opens tomorrow.

That's when I want to place my order.

And there you go.

You saw.

It's very simple.

Just a couple clicks of the mouse.

It's not rocket science.

Anybody can do it.

I have my own ABCs on investing.

That's a take action today.

Be aggressive times on our side.

B believe yourself.

Invest in companies.

You know, look at the clothes you wear, the places you even shop, see, be consistent and commit it.

Set a set time and a set amount.

Hey Biscuit.

Whether it's a discount brokerage company or large brokerage company start the day and they'll they are.

Investing your smart kids they know that financial institutions trade in financial markets like these Thrasher guys they're cool.

Ready so now let's let's down to business okay I can talk to the kids about which financial institutions can actually help them make money in the stock market.

That's right.

There's actually two types that can get you started.

One is a brokerage house, the other is an investment firm.

One quick hint, however, brokerage houses actually don't have bedrooms or backyards.

They still call them houses.

Yeah, but that's kind of like.

Like the building, you know, like a brokerage building.

Okay, well, what a brokerage house is.

It's a financial institution that allows you to pick the stocks or bonds or other financial instruments that you might want to trade.

But what happens when you go to a brokerage house as you work with a broker who actually makes the trades for you?

So you might want to say, I want to buy ten shares of Apple and then the broker does the actual buying, right?

On the contrary, investment firms are more for professional money management.

This is a good alternative.

If you don't have the time to sit in research stocks yourself.

So investment firms are for people that want exposure to professional money managers and their research team.

Just remember, just because they're a professional doesn't mean they're always going to make the right decision or get the right answer.

I mean, listen, even professional racecar drivers crash sometimes.

Investment firms.

Brokerage houses, financial institutions all.

Around us.

You guys know what it is.

Crash team crashes, Buncombe Forbes kids.

Many different types of financial instant.

I just invested my money with my friends.

I'm going to be rich.

What are you, nuts?

They're not regulated.

They're not insured.

Hey, these kids travel now.

I'm in front of a financial market.

Yeah.

Excuse me.

I'm Drew.

Watch out.

Here I come.

Hello.

This is called the Chicago Mercantile Exchange.

It's the futures trading capital of the world is a great place to put your money to work for you, lead you the most of this type of trading of any place in the entire world.

Trading means taking a commodity.

You take something like pigs mean horns, and some people are going to be buying hogs and some people are going to be selling hogs.

And what they do when they trade is they determine what price they're going to buy and sell their hogs and what are they doing with their hands.

Everybody's seen it on TV.

You'll see traders yelling and screaming in the pit.

They you see them either with open hands or closed hands.

This is how the traders communicate.

Quantity, price, time, everything to to run the entire futures pit throughout the day.

If you're selling, your palms are always going to be facing out on the other side.

If I want to say buy a contract, I'm going to have hand in.

I'm going to say one binding one.

And then this hand signal means at the market, quantities are actually fairly simple.

Do you want to sell one?

It's one, two, three, four, five, five, five.

Fingers like this getting the hang of it.

Thank you.

Work gets a little trickier.

It's seven through ten.

So seven, you're going to turn your hand sideways with two fingers like this.

This is eight.

This is nine.

This is tense.

There's other hand signals as well.

If I wanted to sell it two and a half, I'd have two fingers up facing out and I would wiggle my fingers like this, meaning I want to sell it two and a half.

So hand signals very, very important.

Been around a long time and I suspect that that type of trading is going to continue for a very long time to come as well.

Now it's time for this gentleman who.

Is financial.

Institutions.

A, trade places.

B, trade wins.

C, trade in financial markets.

D, Trade jobs.

If you answered A, B, or D, what show are you watching?

The correct answer is CS.

Oh no, not another viewer submitted video.

No pirate, pirate.

Pirate.

Explaining your main financial in Ghana X marks the spot.

Where is the x?

I forgot a bunch of treasure wasted.

I should put my treasured safer places like make sure they're everywhere, enjoy their services with Vanessa Flair or credit unions like a bank but not your member owned and not for profit or online bank.

That's right up my alley and log on after I sweep up the galley or a stock exchange.

My symbol stocks interest rate just might skyrocket brokerage houses and online banks or a payday loan company.

What?

Like.

Okay, so by now you probably understand that financial institutions trade in the world's financial markets.

What you have to decide is which market works best for your needs.

My need is I got to invest.

Okay?

So you can invest in the stock market or derivatives market or forex.

Ooh, who.

You call in a forex.

Now.

Forex like foreign exchange, like like the euros.

What's funny, I have a ghetto for lunch.

You know, not a zero.

A euro.

The currency of the European Union.

Yeah.

A ghetto is a Greek sandwich and has nothing to do with Forex.

There's sort of vicious food.

That's disgusting.

Yeah, yeah.

But all.

This puts a.

Serious blood in your.

House.

It's a camera statement.

Oh, sometimes they're called for portfolio.

Portfolio?

It's always bad.

That's right.

I'll pick up on one again.

Okay.

Okay.

All right.

Yeah.

Okay.

Now you can get this right.

All right.

Oh.

I got my homework.

Check it off to stop.

All right.

So now you've heard some of our stories, and we want to hear some of yours.

Maybe you are a friend that started your own business or thought up some ideas to help a community.

Yeah, we want to hear about those.

So going to bitcoin dot com and share the good news.

Who knows?

Maybe you'll end up right here on the show.

Well, not exactly right here, but yeah, on the show.

Come on.

Right here.

No, not really.

Right here.

No, not there.

Production, funding and educational outreach for biz kids is provided by a coalition of America's credit unions, where people are worth more than money.

A complete list of individual credit union funders is available at WXXI Dawn.

Every day, America's credit unions help members with their financial needs and with programs like Invest in America.

It's only fitting that credit unions support this carnage because financial education is what we do.

Learn more at Love.

My Credit Union Board