Managing Your Money with a Checking Account

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Presentation transcript:

Managing Your Money with a Checking Account Information taken from financeintheclassroom.org

Learning About Checking Accounts Having a checking account is a good idea. Your money will be safe and you’ll have a record of what you’ve paid for. You’ll know how much you have left to use or save. Rules to using a checking account: Only write checks when you have enough money in your account Write checks legibly. Write the amount as far to the left as possible. Always use a pen Don’t sign a blank check. Print the right date on checks. Keep checks in a safe place. Destroy voided or unused checks. Record every transaction in the register Keep a running balance in the register.

Remember to fill out your register with every transaction you make! Filling Out a Check Example I just bought groceries at Smiths for $147.15. Here is how you fill out the check 745.00 1000 10/ 10 Smiths 147 15 10/10/2014 597 85 $147.15 Smiths One hundred forty-seven and 15/100 ----------------------------- groceries John Doe Remember to fill out your register with every transaction you make!

Making a Deposit Example I just received my paycheck for $850.50. This is how I deposit it into my account 745.00 1000 10/ 10 Smiths 147 15 10/10/2014 597 85 10/ 11 $147.15 Smiths 850 50 Deposit 1447 35 John Doe