A Check gives you proof you paid someone. It’s a bad idea to send cash in the mail – you have no proof Many banks will charge you to cash a check.

Slides:

Advertisements

Similar presentations

TYPES OF BANK ACCOUNTS.

Advertisements

Copyright, 1996 © Dale Carnegie & Associates, Inc. BANK ON IT Money Smart Course Indiana Department of Financial Institutions.

Money Management Key Terms.

Earning Money  What is income and what are 3 possible sources?  Income is money that you have available to you to spend  3 sources: babysitting,

Where to Stash Your Cash

TEST PREP 1. A. The amount you can afford to pay B. The minimum payment stated on your bill C. The minimum amount due on your debit card D. 20 percent.

Using a Bank or Credit Union consumer.gov. Why use a bank? A bank is a place to keep your money safe A bank’s services include: – checking accounts and.

Checking Maintaining a checking account is a necessary skill to master before living independently.

OBJECTIVES 3-1 CHECKING ACCOUNTS

Banking Basics. Getting the idea Banks have different types of accounts for your money. A bank account earns interest if the bank pays you an additional.

Prepare a deposit slip Record entries in a check register

Teens 2 lesson six using banking services presentation slides 04/09.

Banking products and operations. withdrawal A withdrawal in a bank / withdraw money = to take money out of a bank account.

Teen Living Objective Identify Sources of Income and Types of Spending.

Do Now At the end of the month you get sent a bank statement. You notice the balance is not the same as your checkbook register. What are the possible.

Understand how checking accounts work. Complete a check register. Slide 1 OBJECTIVES.

© South-Western Educational Publishing Chapter 9 Checking Accounts and Other Banking Services  Checking Accounts  Other Banking Services and Fees.

Banking Jeopardy Double Jeopardy Banking Terms Electronic Banking Savings Accounts Signing.

Chapter 3 Banking Services

Chapters 29 & 30 Checking and Savings Accounts. Thinking Questions Are you saving money for something you want or need? How do you keep track of your.

CHECKING, SAVINGS, AND INVESTING MANAGING YOUR MONEY.

Chapter © 2010 South-Western, Cengage Learning Checking Accounts and Banking Services Banking Services and Fees 9.

Simple Interest And Methods of Payment. * Whenever money is borrowed, the borrower (an individual, organisation or community) pays the lender (a bank.

CONSUMER ECONOMICS I Got Paid!!!! Now What….?. Intro It’s Friday, you just got your first paycheck, and you’re feeling fye. Before you run out to buy.

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 3 rd Period STEP Ms. Gikas

Checking Accounts Chapter 29.

 How to Manage Your Cash › Daily Cash Needs  Lunch, movies, gas, or paying for other activities  Carry cash  Go to an ATM  Credit Card  Know pros.

Intro to Banking and Credit Two basic types of accounts 1.Savings – savings accounts pay interest on the money in the account. This is because the bank.

Check It Out. 2 You Will Know  The benefits of using a credit union or bank vs. using a check cashing service  Types of fees  Types of checking accounts.

How do you write a check? Mr. SmithDate ____________ Any street Any City, State Amount____________ Amount____________ Pay to the order of ____________________________________.

Chapter 3, Section 3 ELECTRONIC BANKING.

Unit 5: Personal Finance Services of the Bank  Place to store your money safely – an Account.

Money Management Key Terms. Money Management Paycheck Key Terms.

Chapter 10 Banking.

Banking Math 10 Essentials. Banking Transactions A bank is an financial institution which deals with cash, domestic and foreign, receives and stores deposits.

Managing Your Money with a Checking Account

Banking Vocabulary.

 A place you put money that you spend quickly  Not money intended for saving  Monthly statement sent to your house by the bank.

What does this mean to you?. FCS 7 TH GRADE Money Management.

Lesson 8, Unit 3 On Banking This presentation will teach you about banks and credit unions—how they work and why they are a good place to keep your money.

Objective Teen Living Money Management.

CHAPTERS 9 & 10 WHERE TO STASH YOUR CASH. LEARNING TARGETS Students can… Explain how banks make a profit Identify types of checking accounts Fill out.

* Do you have a checking account or credit card that you pay for? Do you know how to manage a checking account or credit card? * Please put your responses.

© South-Western Educational Publishing Chapter 9 Checking Accounts and Other Banking Services  Checking Accounts  Other Banking Services and Fees.

© 2003 SOUTH-WESTERN PUBLISHINGCHAPTER 23Slide 1 CHAPTER 23 BANKING AND CREDIT 23.1Financial Institutions 23.2Checking Accounts 23.3Credit and Its Use.

Check It Out When you receive a paycheck, you may want to have a checking account. Do you have a checking account?

Financial Algebra © Cengage/South-Western Slide 1 BANKING SERVICES 3-1Checking Accounts 3-2Reconcile a Bank Statement 3-3Savings Accounts 3.

Choosing and Balancing a Checking Account Personal Finance.

GOALS BUSINESS MATH© Thomson/South-WesternLesson 3.2Slide 1 3.2Electronic Banking Record electronic banking transactions Find account balance when banking.

September 28, 2011 Objective: Students will identify the purpose of a checking account.

Building: Knowledge, Security, Confidence Check It Out FDIC Money Smart for Young Adults.

Why should you have a checking account?. What is an “ATM”? Automated Teller Machine- ATMs have several functions, such as allowing the account holder.

PERSONAL FINANCE. WHAT IS A DEMAND DEPOSIT IN A BANK ON WHICH CHECKS ARE DRAWN? CHECKING ACCOUNT.

Checking Accounts Unit 1, Lesson 1.

Financial Algebra © 2011 Cengage Learning. All Rights Reserved. Slide CHECKING ACCOUNTS Understand how checking accounts work. Complete a check register.

Checking & Savings Accounts Economics What is a Checking Account?  Common financial service used by many consumers (a place to keep money)  Funds.

A plan for managing money during a given period of time Financial Roadmap.

Personal Finance Economics. Income This is the money that you have earned or have been given each day, week, month, or year. Often, this refers to the.

JA Our City 3rd Grade Volunteer’s Name Volunteer’s Title Volunteer’s Company.

Fri. 4/15. Ch. 10 Money and Banking 10.3 Notes “Banking Today”

Do Now Why do people have checking accounts?. Unit 4: Lesson 13: Checking Accounts Day 1 Objective: identify vocabulary terms related to checking accounts.

Banking Review. Bank Business that stores money for individuals and businesses.

Unit 4: Savings & Checking Accounts. Plan for the Unit... So far ▪ Day 1: Vocabulary & Vocabulary Comp Check and Start Building the.

Account Number Is your unique reference number in a bank?

4.02 Review PF Blake invested $200 in the federal government. What type of investment is this? A. Bond B. Certificate of deposit C. Mutual fund D. Stock.

 Two types of banks – for profit bank and credit unions  Credit unions are local and member owned – not for profit – limited sometimes in services 

MRS. RUIZ-EMMONS Business math fall 2017

Lesson 9.1 unit 4 Checking accounts and other banking services

Banking Skill 10.

Presentation transcript:

A Check gives you proof you paid someone. It’s a bad idea to send cash in the mail – you have no proof Many banks will charge you to cash a check if you don’t have an account with them Some banks charge fees for checking, look for banks that don’t

A check is a promise to pay  Jaycee writes a check to pay Jacob what she owes him for fixing her car.  Jacob, takes the check to his bank, and they give him money. (Good Money Bank)  Good Money Bank sends the check to First Kids bank (Jaycee’s bank) and asks for to be paid back.  Kid’s bank takes the money out of Jaycee’s account and sends it to Jacob’s bank.

How to write a check Jaycee Kircher 1101 Arkansaw, WI Pay to the order of $ DOLLARS K ids Bank $$$ MEMO April Jacob Gullickson Twenty and 00/ Car repairs Jaycee Kircher

NumberDateTransactionWithdrawal Deposit $ /26/13 Jacob Gullickson 2000

NumberDateTransactionWithdrawal Deposit $ /25/13 Jacob Gullickson car repairs

NumberDateTransactionWithdrawal Deposit $ /25/13 Jacob Gullickson car repairs 4/27/13 Paycheck 50000

NumberDateTransactionWithdrawal Deposit $ /25/13 Jacob Gullickson car repairs 4/27/13 Paycheck

NumberDateTransactionWithdrawal Deposit $ /1/13 Jacob Gullickson car repairs 4/27/13 Paycheck Bank4/28/13 Ford Motor Credit car loan

NumberDateTransactionWithdrawal Deposit $ /26/13 Jacob Gullickson car repairs 4/27/13 Paycheck Bank4/28/13 Ford Motor Credit car loan 11024/28/13 EconoFoods groceries CkCd4/29/13 Carmike Cinemas movies

What is a Debit Card?

What else is a Debit Card? It can also be known as an ATM card ATM stands for Automatic Teller Machine (like visiting the bank, but instead of a person (teller) there is a machine working for you. At an ATM you can get cash from your checking account – it is subtracted just like a check. Sometimes if you use an ATM that doesn’t belong to your bank – the other bank will charge you a fee to use the machine.

NumberDateTransactionWithdrawal Deposit $ /26/13 Jacob Gullickson car repairs 4/27/13 Paycheck Bank4/28/13 Ford Motor Credit car loan 11024/28/13 EconoFoods groceries CkCd4/29/13 Carmike Cinemas movies 11034/30/13 Xcel Energy electric bill

Kids Bank $$$ Durand, WI Jaycee Kircher Arkansaw, WI Account # 1234 Previous Balance $ Deposit/Credit Checks/Debits Ending Balance $ Deposits & Additions 4/27 Regular Deposit Checks & Withdrawals 4/28 Ford Motor Credit /29 Carmike Cinemas Checks in Serial Order # 4/ /

Balance per bank Statement $ minus outstanding checks #$______ #_____$______ #_____$______ total $______- plus outstanding deposits DateAmount ______ total$+ balance on check register $

Like What???? Setting Aside money for future Occurrences What is Savings?

Something you WANTThings you don’t Expect

 Extra jobs  Gifts  A plan to save  A Budget

 You put $100 in a savings account, the bank pays you interest for every day they hold your money.  They pay interest of 3.65%  Then the bank loans, that $100 to a different customer at a higher rate. $ %1¢/day$3.65/year $ %3¢/day$10.95/year $ $3.65 = $7.30 the money the bank makes

$20, %$ /year $20, %$ 2, /year