Can you write me a check? Math 2 Checking Account.

Slides:



Advertisements
Similar presentations
Warm-up: April 11 What’s the difference between a checking and savings account?
Advertisements

Teens 2 lesson six using banking services presentation slides 04/09.
CREATIVE LIVING PG. 311  Write the answers on the back of the worksheet on the middle table  Get a pair of scissors.
Teens lesson six banking services. compare checking accounts location branch offices; hours of operation; availability of ATMs fees monthly fees; per.
Teens lesson six banking services.
FINANCE Chapter 9 Checking Accounts and Other Banking Services.
LEARNING ABOUT FINANCIAL SERVICES. What is a Financial Institution? §An organization that provides services that everyone needs to manage money (p 57)
Teens lesson banking services presentation slides- from VISA 04/09.
Teens banking services 04/09.
Teens 04/09. Beware The High Cost Of Financial Services pawn shops charge very high interest for loans based on the value of tangible assets (such as.
Checking Accounts and Other Banking Services
How do you write a check? Mr. SmithDate ____________ Any street Any City, State Amount____________ Amount____________ Pay to the order of ____________________________________.
Chapter 10 Banking.
Bell Ringer Marlin made $557 in gross pay. His employer withheld $88.25 in total federal tax, state tax, and FICA from his check. How much was his net.
Managing Your Money with a Checking Account
Check Writing All About Checks. Check Writing Checks include the following information:
Lesson six banking services presentation slides. beware the high cost of financial services pawn shops charge very high ___________ for loans based on.
Teens lesson six banking services presentation slides 04/09.
Checking Account & Debit Card Understanding Checking Accounts and Debit Card Transactions.
Checking & Savings Accounts Economics What is a Checking Account?  Common financial service used by many consumers (a place to keep money)  Funds.
Checking Account & Debit Card Simulation Understanding Checking Accounts and Debit Card Transactions.
Banking Basics!. Why The Bank? Banks and credit unions are safe and convenient places to keep your money. Most account balances are insured up to $100,000.
Banking Services presentation slides. Compare Checking Accounts location branch offices; hours of operation; availability of ATMs fees monthly fees; per.
Teens lesson six banking services presentation slides 04/09.
Teens lesson six banking services presentation slides 03/08.
Banking Services Consumer Education Chapter 7. How Banks Work 7.1.
Checking Accounts Open, Manage, and Reconcile. 1. What is a checking account?  A checking account is opened at a bank or other financial institution.
Budgeting 101 Many Americans do not know how to manage their money to keep themselves out of debt, let alone to save money. Budgeting can help!
Consumer Education Chapter 7
Teens 2 lesson six using banking services presentation slides 04/09.
Culminating Activity: Keeping a Running Balance
Checking Account & Debit Card Simulation
Check Writing All About Checks.
Tracking Your Money Standard 4. Managing a Bank Account
Check Writing.
BANKING TERMS _____.
Check Writing All About Checks.
Open, Manage, and Reconcile
How to Do your Banking Chapter 5.
Checking Account & Debit Card Simulation
**Round to the nearest dollar**
Unit 3-1 CHECKING ACCOUNTS
Check Writing All About Checks.
Teens lesson six banking services presentation slides 04/09.
Check Writing All About Checks.
What Can You Do With Money
Check Writing All About Checks.
Check Writing All About Checks.
Check Writing All About Checks.
using banking services
Teens lesson six banking services presentation slides 04/09.
Teens lesson six banking services presentation slides 04/09.
Teens 2 lesson six using banking services presentation slides 04/09.
using banking services
Banking Services & Savings
Check Writing All About Checks.
Check Writing All About Checks.
Teens lesson six banking services presentation slides 04/09.
How to Write a Check.
Teens lesson six banking services presentation slides 03/08.
Lesson #1 - How to write a check
Check Writing All About Checks.
Bell Ringer: Answer these questions:
Check Writing All About Checks.
Check Writing All About Checks.
Checking Accounts, Debit Cards & Check Writing
Check Writing All About Checks.
Checking Account Vocabulary
Teens lesson six banking services presentation slides 04/09.
Entry Task Read Pg’s
Presentation transcript:

Can you write me a check? Math 2 Checking Account

Checking Accounts Checking account-an account where the holder can write checks; draw less interest Withdrawal- amount of money taken out of an account. Overdraft-a check is written for more money than is currently in the account. If the bank refuses to cask the check, it’s said to have bounced. Check-a bill of exchange, or a document guaranteeing a certain amount of money, where the drawee is a bank. Check Register- is the journal used to record all of the checks, cash payments, and outlays of cash during an accounting period. Payee-The person receiving the payment.

Why do people have checking accounts? A checking account can help you manage your money and keep it safe. You don’t have to carry large amounts of cash around. Most businesses accept checks if you have a state ID or driver’s license. You can usually acquire a debit card, which can be used like a credit card for buying things online or making online payments, paying at the pump for gas, etc. Canceled checks are proof that you paid a bill. Money in your bank account is safe from fire, loss, or theft. Checking accounts at most banks are insured by the federal government (FDIC) up to specified dollar amounts.

Examples of when/how someone would use a checking account: Pay bills Keep money safe When traveling Buying Organization To keep a record of money spent As a table group, come up with 4 more examples.

Savings Account Saving account- an account that accrues interest in exchange for use of the money deposited. Deposit- a sum of money placed or kept in a bank account, usually to gain interest. ATM- (automated teller machine) electronic banking outlet, which allows customers to complete basic transactions

Parts of a Check Date-Enter the date on which you are writing the check. Payee-Enter the name of the person or the company you are going to give the check to. Amount of check in numerals-Enter the amount of the check, in numbers. Don’t leave any space between the pre-printed dollar symbol ($) and the numbers indicating the amount of the check; there should be no room for someone to add in extra numbers.

Parts of a check 4. Amount of check in words Enter the amount of the check in words. Start writing at the far left side of the line. Follow the dollar amount by the word “and,” then write the amount of cents over the number 100. Draw a line from the end of the 100 to the end of the line. 5. Memo-Use this space to note why you wrote the check. If you are paying a bill, this is a good place to put information requested by the company. 6. Signature-Sign your check exactly the way you signed your name on the signature card you filled out when you opened your account.

Check Register Term Explanation Check Number    The number of the check you wrote, located at the top corner of the check. Date  The date the check was written. Transaction Description  The memo section of the check-why you wrote the check Payment/Debit  the amount of money you payed Deposit/Credit  the amount of money you deposited Balance  your new balance after the deposit/withdrawal.

Scenario You are about to sit down to write checks and make deposit for the upcoming week. You were paid this morning, wahoo! The paycheck for your part time job was for $1387.22

Directions You will write out the checks and deposits slips. Be sure to record them in your check register. You will balance your checkbook at the end of this activity.

Check #100 Today, (Jan. 5), you owe your Eagle’s View Apartment $472.34 for rent.

Check #101 You owe your Principal $10.00 for the spirit group t-shirt you bought. Must be paid by Jan. 7, 2017.

Check #102 You owe Beyonce Knowles $1.98 for the new song you bought off her website which you bought on Jan. 6, 2017.

Check #103 Yesterday (Jan. 4), you are a good person and decide to donate $100.06 to Habitat for Humanity to help them build more houses in New Orleans.

Check #104 You decide to buy your favorite teacher (Mrs. Newberry) a Christmas gift. On Christmas Eve, you spend $22.63 at Starbucks on a nice gift card.

Surprise Deposit! Your mom is so proud of you for getting good grades so far this school year. She gives you $10.00 for every A you currently have. Find out how many As you have and make a deposit for the correct amount in your checking account to spend on anything you want!

Check #105 You and your friends have decided to stay after school on Tuesday to study for your science test coming up. Your classmate, Justin Beiber, needs $5.60 to cover the cost of the pizza and pop he is going to bring.

Deposit #2 Your mom sent you $50 for your birthday.

Check #106 You forgot to sell your Entertainment Book to your friend this weekend and the money is due on Monday. You owe the High School $39.52 so that you can go to prom and graduate, must be paid oj June 1.

Check #107 You owe TXU $96.32 for the electricity. Must be paid by Friday.

Check #108 Wednesday, you bought groceries at Albertson for $221.74.

Last Step Balance your check book. Did you overspend? Write your name on all sheets and put them in the tray when you are done. Don’t forget to answer the question: Did you overspend?